Companies (Corporate Enforcement Authority) Act 2021

19.

Amendment of section 123 of Principal Act

19. Section 123 of the Principal Act is amended, in subsection (1)—

(a) in paragraph (d), by the deletion of “and”,

(b) in paragraph (e), by the substitution of “up; and” for “up.”, and

(c) by the insertion of the following paragraph after paragraph (e):

“(f) the reduction of share capital—

(i) by paying off paid up share capital (effected in accordance with section 84 in the case of a company limited by shares), or

(ii) by extinguishing or reducing all or part of a member’s liability on shares not fully paid up (effected in accordance with section 84 in the case of a company limited by shares).”.