https://www.taxtmi.com/acts?id=12395 Liability for reduced shares is confined to the difference between the amount deemed paid on the share and the reduced nominal amount; creditors ignorant of the reduction may-if the company cannot then pay their debt-require members on the register at registration to contribute up to the amount they would have been liable for had winding-up begun immediately before registration, and the Tribunal may, upon proof of ignorance, settle and enforce a list of contributories as in a winding-up. en-us Sat, 07 May 2011 17:19:25 +0530 Sat, 07 May 2011 17:19:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12395 Liability for reduced shares is confined to the difference between the amount deemed paid on the share and the reduced nominal amount; creditors ignorant of the reduction may-if the company cannot then pay their debt-require members on the register at registration to contribute up to the amount they would have been liable for had winding-up begun immediately before registration, and the Tribunal may, upon proof of ignorance, settle and enforce a list of contributories as in a winding-up. Act-Rules Companies Law Sat, 07 May 2011 17:19:25 +0530 https://www.taxtmi.com/acts?id=12395