Companies. [Ch. 31. No. 1.

appropriating, as the Court may direct, the following
amount-—

(i) if the company admits the full amount of
the debt or claim, or, though not admitting it, is
willing to provide for it, then the full amount of
the debt or claim;

(ii) if the company does not admit and is not
willing to provide for the full amount of the debt
or claim, or if the amount is contingent or not
ascertained, then an amount fixed by the Court
after the like inquiry and adjudication as if the
company were being wound up by the Court.

(3) Where a proposed reduction of share capital
involves either the diminution of any liability in respect
of unpaid share capital or the payment to any shareholder
of any paid-up share capital, the Court may, if having
regard to any special circumstances of the case it thinks
proper so to do, direct that subsection (2) of this section
shall not apply as regards any class or any classes of creditors.

59. (1) The Court, if satisfied, with respect to every
creditor of the company who under the last foregoing
section 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

(6) 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 informa-
tion 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

373

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