Form CR39 - Notice by Applicants of Application to Court for Cancellation of the Special Resolution Approving a Redemption or Purchase of Shares Out of Capital

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Document Overview

Form CR39 – Notice by Applicants of Application to Court for Cancellation of the Special Resolution Approving a Redemption or Purchase of Shares Out of Capital is a statutory form prescribed under Section 480 of the Companies Act, 2015 (Kenya).

It is used when an application is made to the court to cancel a special resolution that had earlier approved the redemption or buy-back of shares funded out of the company’s capital..

Purpose:
1. To notify the Registrar of Companies that a court application has been filed to challenge or cancel a special resolution approving a redemption or purchase of shares out of capital.
2. Ensures that the Registrar (and by extension the public record) is aware that the original resolution may not take effect until the court rules.
3. Provides transparency to shareholders, creditors, and regulators

Key Components:
1. Company name & number.
2. Details of the application – specify that an application has been made to the court.
3. Date of the special resolution being challenged.
4. Nature of the resolution – redemption or purchase of shares out of capital.
5. Lodger’s details – name, address, capacity (director, secretary, or agent), signature, and date

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Form CR39 - Notice by Applicants of Application to Court for Cancellation of the Special Resolution Approving a Redemption or Purchase of Shares Out of Capital

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