§ 78G — Reduction by special resolution subject to Court approval

78G.—(1) A company limited by shares may, as an alternative to reducing its share capital under section 78B or 78C, reduce it in any way by a special resolution approved by an order of the Court under section 78I, but the resolution and the reduction of the share capital do not take effect until —(a)

that order has been made;

(b)

the company has complied with section 78I(3) (lodgment of information with Registrar); and

(c)

the Registrar has recorded the information lodged with him or her under section 78I(3) in the appropriate register.

(2) [Deleted by Act 36 of 2014]

—(1) A company limited by shares may, as an alternative to reducing its share capital under section 78B or 78C, reduce it in any way by a special resolution approved by an order of the Court under section 78I, but the resolution and the reduction of the share capital do not take effect until —(a)

that order has been made;

(b)

the company has complied with section 78I(3) (lodgment of information with Registrar); and

(c)

the Registrar has recorded the information lodged with him or her under section 78I(3) in the appropriate register.

(2) [Deleted by Act 36 of 2014]