| 单词 | reduction |
| 释义 | reduction reduction in the Scots law of civil remedies, the remedy to have a writing annulled. In lower courts it can only be done OPE EXCEPTIONIS. reduction of capital a company's capital may be lawfully reduced in two ways:(1) by extinguishing or reducing the liability of its members on any uncalled capital; or (2) by repaying to them the nominal value of their shares. Where a company has suffered losses, it can cancel paid-up shares on the ground that they are unrepresented by available assets. A reduc- tion requires a special resolution; it must be authorised by the arti- cles and confirmed by the courts. |
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