All sections · Part V: Shares · Sub-Part VI: Alteration of capital

85 Court order confirming reduction

(1) The Court, if satisfied with respect to every creditor of the company who
under section 84 is entitled to object to the reduction of share capital that

either —

(a) the creditor‘s consent to the reduction has been obtained; or

(b) the creditor‘s debt or claim has been discharged or has
determined, or has been secured,

may make an order confirming the reduction of share capital on such terms
and conditions as it thinks fit.

(2) Where the Court so orders, it may also make an order requiring the
company to publish, as the Court directs, the reasons for reduction of
capital or such other information in regard to it as the Court thinks fit with
a view to giving proper information to the public and, if the Court thinks
fit, the causes which led to the reduction.
All questions

Related sections

WhatsApp