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of those creditors and the nature and amount of their debts or claims, and may publish notices fixing a day or days within which creditors not entered on the list are to claim to be so entered or are to be excluded from the right of objecting to the reduction : (c) Where a creditor entered on the list whose debt or claim is not discharged or has not determined does not consent to the reduction, the court may, if it thinks fit, dispense with the consent of that creditor, on the company securing payment of his debt or claim by appropriating, as the court may direct, the following amount:
(i) If the company admits the full amount of the debt or claim, or, though not admitting it, is willing to provide for it, then the full amount of the debt or claim;
(ii) If the company does not admit and is not willing to provide for the full amount of the debt or claim, or if the amount is contingent or not ascertained, then an amount fixed by the court after the like inquiry and adjudication as if the company were being wound up by the court.
(3) Where a proposed reduction of share capital involves either the diminution of any liability in respect of unpaid share capital or the payment to any shareholder of any paid-up share capital, the court may, if having regard to any special circums- tances of the case it thinks proper so to do, direct that subsection (2) of this section shall not apply as regards any class or any classes of creditors.
59.-(1) The court, if satisfied, with respect to Order every creditor of the company who under the last confirming foregoing section is entitled to object to the reduction, reduction
and powers that either his consent to the reduction has been of court obtained or his debt or claim has been discharged or on making has determined, or has been secured, may make an such order. order confirming the reduction on such terms and
19 & 20 Geo. conditions as it thinks fit.
5, c. 23,
(2) Where the court makes any such order, it
may-
(a) if for any special reason it thinks proper so
+
to do, make an order directing that the com-
pany shall, during such period, commencing on or at any time after the date of the order as is specified in the order, add to its name as the last words thereof the words "and reduced"; and
(b) make an order requiring the company t
publish as the court directs the reasons for reduction or such other information in regard thereto as the court may think expedient with a view to giving proper information to the public, and, if the court thinks fit, the causes which led to the reduction.
(3) Where a company is ordered to add to its name the words "and reduced," those words shall, until the expiration of the period specified in the order, be deemed to be part of the name of the company.
9. 57.
60.—(1) The registrar of companies, on production Registra- to him of an order of the court confirming the tion of reduction of the share capital of a company, and the order and delivery to him of a copy of the order and of a minute minute of approved by the court, showing with respect to the
reduction, 19 & 20 Geo. share capital of the company, as altered by the order. 5, c. 23, the amount of the share capital, the number of shares s. 58. into which it is to be divided, and the amount of each share, and the amount, if any, at the date of the registration deemed to be paid up on each share, shall register the order and minute...
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