Companies Act - Singapore Statutes Online

Reduction by special resolution subject to Court approval

78G.—(1) A company limited by shares may, as an alternative to reducing its share capital under section 78B or 78C, reduce it in any way by a special resolution approved by an order of the Court under section 78I, but the resolution and the reduction of the share capital shall not take effect until —

(a)	that order has been made;
(b)	the company has complied with section 78I(3) (lodgment of information with Registrar); and
(c)	the Registrar has recorded the information lodged with him under section 78I(3) in the appropriate register. [21/2005]

(2) The company shall —

(a)	within 8 days beginning with the resolution date; and
(b)	in any case, before making an application to the Court under subsection (1),

send to the Comptroller a notice stating that the resolution has been passed and containing the text of the resolution and the resolution date.

[21/2005]

[UK, 1985, s. 59]

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