Memorandum of Association — SPCC STD 11 Commerce — Question

Change in the Capital Clause : They are as below: (1) The power to change capital should be authorized by Articles of Association of the company. (2) Special Resolution needs to be passed in the general meeting. (3) With the help of special resolution company can increase its authorized share capital. (4) Shares can be consolidated into shares of larger amount than its existing shares. (5) Shares can be sub divided in to shares of smaller amount than its existing shares. (6) All the shares can be sub-divided or one class of shares can be divided. (7) The company can cancel the shares which ar not taken by anyone and diminish the amount of its share capital. The share capital of a company limited by shares-or limited by guarantee and having a share capital may be reduced by a special resolution of the company which is followed by an application to the court and on conformation the share capital can be reduced.