|
|
|
Amendment of section 123 of Principal Act
|
| |
19. Section 123 of the Principal Act is amended, in subsection (1)—
|
|
| |
(a) in paragraph (d), by the deletion of “and”,
|
|
| |
(b) in paragraph (e), by the substitution of “up; and” for “up.”, and
|
|
| |
(c) by the insertion of the following paragraph after paragraph (e):
|
|
| |
“(f) the reduction of share capital—
|
|
| |
(i) by paying off paid up share capital (effected in accordance with section 84 in the case of a company limited by shares), or
|
|
| |
(ii) by extinguishing or reducing all or part of a member’s liability on shares not fully paid up (effected in accordance with section 84 in the case of a company limited by shares).”.
|
