COMPANIES.
No. 58 of 1911.
2027
has determined, or has been secured, may make an order confirming the reduction on such terms and conditions as it thinks fit.
minute of
8
c. 69, s. 51.
*
52. (1) The Registrar of Companies on production to him of an order of the court confirming the reduction of the share capital of a company, and the delivery to him of a copy of the order and of a minute (approved by the court), showing with respect to the share capital of the company, as altered by the order, the amount of the share capital, the number of shares 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.
(2) On the registration, and not before, the resolution for reducing share capital as confirmed by the order so registered shall take effect.
(3) Notice of the registration shall be published in such manner as the court may direct.
(4) The Registrar of Companies shall certify under his hand the registration of the order and minute, and his certificate shall be conclusive evidence that all the requirements of this Ordinance with respect to reduction of share capital have been complied with, and that the share capital of the company is such as is stated in the minute.
memorandum.
53.--(1) The minute when registered shall be deemed to be substituted for the corresponding part of the memorandum of the company, and shall be valid and alterable as if it had been originally contained therein; and must be embodied in every copy of the memorandum issued after its registration.
(2) Every company which makes default in complying with the requirements of this section shall be liable to a fine not exceeding ten dollars for each copy in respect of which default is made, and every director and manager of the company who knowingly and wilfully authorises or permits the default shall be liable to the like penalty.
* As amended by Law Rev. Ord., 1924.
COMPANIES.
No. 58 of 1911.
2027
has determined, or has been secured, may make an order confirming the reduction on such terms and conditions as it thinks fit.
minute of
8
c. 69, s. 51.
*
52. (1) The Registrar of Companies on production to Registration him of an order of the court confirming the reduction of the of order and share capital of a company, and the delivery to him of a copy reduction. of the order and of a minute (approved by the court), showing & dw. 7 with respect to the share capital of the company, as altered by the order, the amount of the share capital, the number of shares 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.
(2) On the registration, and not before, the resolution for reducing share capital as confirmed by the order so registered shall take effect.
(3) Notice of the registration shall be published in such manner as the court may direct.
(4) The Registrar of Companies shall certify under his hand the registration of the order and minute, and his certificate shall be conclusive evidence that all the require- ments of this Ordinance with respect to reduction of share capital have been complied with, and that the share capital of the company is such as is stated in the minute.
memorandum.
53.--(1) The minute when registered shall be deemed to Minute to be substituted for the corresponding part of the memorandum form part of of the company, and shall be valid and alterable as if it had 8 Edw. 7, been originally contained therein; and must be embodied c. 69, s. 52. in every copy of the memorandum issued after its registra-
tion.
(2) Every company which makes default in complying with the requirements of this section shall be liable to a fine not exceeding ten dollars for each copy in respect of which default is made, and every director and manager of the company who knowingly and wilfully authorises or permits the default shall be liable to the like penalty.
* As amended by Law Rev. Ord., 1924.
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