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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 68

Order confirming reduction and powers of court on making such order.

68.(1) The court, if satisfied, with respect to every creditor of the company
who under section sixty-seven is entitled to object to the reduction, that
either his consent to the reduction has been obtained or his debt or claim has
been discharged or has determined, or has been secured, may make an order
confirming the reduction on such terms and conditions as it thinks fit.

(2) Where the court makes any such order, it may

(a)if for any special reason it thinks proper so to do, make an order,
directing that the company shall, during such period, commencing on or at any
time after the date of the order, as is specified in the order, add to its
name as the last words thereof the words "and reduced"; and

(b)make an order requiring the company to publish as the court directs the
reasons for reduction or such other information in regard thereto as the court
may think expedient with a view to giving proper information to the public,
and, if the court thinks fit, the causes which led to the reduction.

(3) Where a company is ordered to add to its name the words "and reduced",
those words shall, until the expiration of the period specified in the order,
be deemed to be part of the name of the company.


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© 1960 Crown Copyright

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