Commentary

212 Application to the court to cancel resolution approving capital payment

COMPANIES vol 10(1) Directors and Other Officers, Shareholders, Shares and Share Capital
| Commentary

212 Application to the court to cancel resolution approving capital payment

| Commentary

212 Application to the court to cancel resolution approving capital payment

Within five weeks after the passing of a special resolution approving a redemption or purchase out of capital, any of the company’s shareholders (other than one who consented to or voted in favour of the resolution) or creditors may apply to the court for the cancellation of the resolution1. On making the application, the applicants (or the person making the application on their behalf) must immediately give notice to the registrar2. The company must also give notice to the registrar immediately on being served with notice of the application3

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