ADVOKS GLOBAL · KENYA
Companies Act
408. Application to Court for confirming order
Edition: 2024-12-27 · In force
408. Application to Court for confirming order
(1)As soon as practicable a company has passed a resolution for reducing its share capital, it shall apply to the Court for an order confirming the reduction.(2)If the proposed reduction of capital involves either—(a)diminution of liability in respect of unpaid share capital; or(b)the payment to a shareholder of any paid-up share capital, section 409 (creditors entitled to object to reduction) applies unless the Court directs otherwise.(3)The Court may, if having regard to any special circumstances of the case it considers it appropriate to do so, direct that section 409 is not to apply in relation to a specified class or specified classes of creditors.(4)The Court may direct that section 409 is to apply in any other case.