Can share capital be reduced other than by way of a buy-back?
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2005
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South African Law Journal
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University of Cape Town
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Abstract
The amendments made to the Companies Act 61 of 1973 (hereafter referred to as ‘the Act’) by the Companies Amendment Act 37 of 1999 made far-reaching changes affecting the share capital of a company. A significant change was the removal of ss 83–90 of the Act, which required a special resolution and, except in limited circumstances, a court’s sanction in order for a company to reduce its share capital.
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Reference:
Jooste, R. (2005). Can share capital be reduced other than by way of a buy-back?: note. South African Law Journal, 122(2), p-294.