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Section 130 Companies and Allied Matters Act 2020

Section 130 CAMA 2020

Section 130 Companies and Allied Matters Act is about Restriction on reduction of issued share capital. It is under Reduction of Share Capital of Chapter 7 of PART B (Incorporation of Companies and Incidental Matters) of the Act.

Restriction on reduction of issued share capital

(1) Except as authorised by this Act, a company having a share capital shall not reduce its issued share capital.

(2) For the purposes of this section and other sections relating to reduction of share capital, any issue of share capital shall include the share premium account and any capital redemption reserve account of a company, and ‘‘issued share capital’’ shall be construed accordingly.

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See also  Section 202 Companies and Allied Matters Act (CAMA) 2020

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