Section 89: Reduction of share capital
The Companies Act, 2017 · Federal Acts · in_force
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89. Reduction of share capital.—Subject to confirmation by the Court a company limited by shares, if so authorised by its articles, may by special resolution reduce its share capital in any way, namely— (a) cancel any paid-up share capital which is lost or un-represented by available assets; (b) pay off any paid-up share capital which is in excess of the needs of the company.
Effective date: 2017-05-30
Related sections
Section 88: Power of a company to purchase its own sharesSection 90: Objection by creditors and settlement of list of objecting creditorsSection 87: Subsidiary company not to hold shares in its holding companySection 91: Power to dispense with consent of creditor on security being given for his debtSection 86: Prohibition of purchase by company or giving of loans by it for purchase of its sharesSection 92: Order confirming reduction
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