单词 | reduction of capital |
释义 | reduction of capital A reduction in the issued share capital of a company. The Companies Act states that, subject to confirmation by the court, a company may, if authorized by its articles of association, pass a special resolution to reduce its issued share capital. It may (a) cancel any paid-up capital that is lost or no longer represented by available assets, (b) extinguish or reduce the liability on any of its shares in respect of share capital not paid up, (c) pay off any paid-up share capital that is in excess of its warrants. |
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