The Companies Act No. 17 of 2015Section 410 of The Companies Act No. 17 of 2015: Order confirming reduction and powers of Court on making such order
(1) The Court may make an order confirming the reduction of capital on such terms and conditions as it considers appropriate.
(2) The Court may not confirm the reduction unless it is satisfied, in relation to each creditor of the company who is entitled to object to the reduction of capital that either—
(a) the creditor's consent to the reduction has been obtained; or
(b) the creditor's debt or claim has been discharged, has terminated or has been secured.
(3) If the Court confirms the reduction, it may order the company to publish as the Court directs—
(a) the reasons for reduction of capital, or such other information as the Court considers necessary in order to provide the public with full and detailed information about the reduction; and
(b) if the Court considers it is in the public interest to do so—the causes that led to the reduction.
(4) If, for any special reason, the Court considers it appropriate to do so, it may make an order directing the company, during a specified period, to add at the end of its name the words "and reduced".
(5) If a company is ordered to add to its name the words "and reduced", those words form part of the name of the company until the end of the period specified in the Court's order.
(6) In subsection (4), "specified period", in relation to an order of the Court, means a period specified by the Court beginning on the date of the order or on such later date as the Court specifies in the order.
Check the current authoritative text and amendment history before relying on this provision.
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