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COMPANIES ACT 2016Section 119(2)NOTICE OF REDUCTION OF SHARE CAPITAL WHERE OBJECTION WAS DISMISSED, WITHDRAWN OR BROUGHT TO AN END___(Company Name)To the Registrar of Companies, ..........................
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How to fill out new capital reduction procedure

01
Hold a board meeting to propose the capital reduction and obtain approval from the shareholders.
02
Prepare a special resolution for the capital reduction and file it with the relevant authorities.
03
Obtain approval from the creditors if necessary.
04
Publish a notice of the capital reduction in a local newspaper.
05
Update the company's articles of association to reflect the new capital structure.

Who needs new capital reduction procedure?

01
Companies looking to reduce their capital for various reasons such as financial restructuring, simplifying the capital structure, or returning excess capital to shareholders.

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The new capital reduction procedure is a process where a company reduces its share capital by canceling existing shares or returning capital to shareholders.
Companies who wish to reduce their share capital are required to file the new capital reduction procedure with the relevant regulatory authorities.
The new capital reduction procedure typically involves submitting a formal application, providing supporting documentation, and obtaining approval from shareholders and regulatory authorities.
The purpose of the new capital reduction procedure is to adjust the company's capital structure to better reflect its financial position or to return excess capital to shareholders.
The new capital reduction procedure must include details of the proposed reduction, the reason for the reduction, and any potential impact on shareholders or creditors.
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