| 释义 |
reduction of capital
A reduction of a company’s share capital in accordance with the Companies Act 2006. Section 641(1)(a) of the Act states that a private company can reduce its share capital provided that: (i) it passes a special resolution to do so; (ii) the resolution is supported by a solvency statement; and (iii) the reduction is not restricted or prohibited by the company’s articles. Alternatively, a private or public company can, subject to any restriction or prohibition in the articles, reduce its share capital on the passing of a special resolution confirmed by the court (s 641(1)(b) and 645–51). A reduction of capital can also occur where there is a permitted redemption or repurchase of a private company’s own shares out of capital under sections 709–23 of the Companies Act. |