590. Registration of order and statement of capital
(1) The Registrar, on production of an order of the Court confirming the reduction of a company’s share capital and the delivery of a copy of the order and of a statement of capital (approved by the Court), shall register the order and statement.
This is subject to section 591 (public company reducing capital below authorised minimum).
(2) The statement of capital must state with respect to the company’s share capital as altered by the order-
(a) the total number of shares of the company,
(b) the aggregate issue price of those shares,
(c) for each class of shares-
(i) prescribed particulars of the rights attached to the shares,
(ii) the total number of shares of that class, and
(iii) the aggregate issue price of shares of that class, and
(d) the amount paid up and the amount (if any) unpaid on each share.
(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 Part 25 (arrangements and reconstructions)-
(i) on delivery of the order and statement of capital to the Registrar, 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) Notice of the registration of the order and statement of capital must be published in such manner as the Court may direct.
(5) The Registrar must certify the registration of the order and statement of capital.
(6) The certificate-
(a) shall be in electronic form; and
(b) is conclusive evidence-
(i) that the requirements of these Regulations with respect to the reduction of share capital have been complied with, and
(ii) that the company’s share capital is as stated in the statement of capital.
(7) The certificate of incorporation shall comply with the provisions of section 940 (Form and right to certificate of incorporation).