(1) The court may make an order confirming the reduction of capital on such terms and conditions as it thinks fit.
(2) The court must not confirm the reduction unless it is satisfied, with respect to every creditor of the company who is entitled to object to the reduction of capital that either—
(a) his consent to the reduction has been obtained, or
(b) his debt or claim has been discharged, or has determined or has been secured.
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