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Section 411 of The Companies Act No. 17 of 2015: Registration of Court order and statement of capital

    

(1) On production of an order of the Court confirming the reduction of a company’s share capital and the lodgement of a copy of the order and of a statement of capital approved by the Court, the Registrar shall register the order and statement.
(2) The company shall ensure that the statement of capital specifies with respect to the company's share capital as amended by the order—
(a) the total number of shares of the company;
(b) the aggregate nominal value of those shares; (c) for each class of shares—
(i) the particulars of the rights attached to the shares prescribed by the regulations for the purposes of this subsection;
(ii) the total number of shares of that class; and
(iii) the aggregate nominal value of shares of that class; and
(d) the amount paid up and the amount (if any) unpaid on each share, whether on account of the nominal value of the share or in the form of a premium.
(3) The resolution for reducing share capital, as confirmed by the Court's order, takes effect—
(a) in the case of a reduction of share capital that forms part of a compromise or arrangement sanctioned by the Court under the laws relating to insolvency;
(i) on lodgement of the order and statement of capital with the Registrar for registration; or
(ii) if the Court so orders—on the registration of the order and statement of capital;
(b) in any other case —on the registration of the order and statement of capital.
(4) The company shall publish notice of the registration in such manner as the Court directs.
(5) The Registrar shall—
(a) certify the registration of the order and statement of capital; and
(b) sign the certificate or authenticate it with the Registrar's official seal.
(6) The certificate is conclusive evidence that—
(a) the requirements of this Act with respect to the reduction of share capital have been complied with; and
(b) the company's share capital is as stated in its statement of capital.

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