Which of the following is incorrect in relation to a reduction of capital by a private company?

Which of the following is incorrect in relation to a reduction of capital by a private company?
A . The company must pass a special resolution to authorize the reduction of capital.
B . The reduction must be approved by the court.
C . It is not necessary for the company’s Articles of Association to authorize a reduction of capital.
D . The directors must make a solvency statement.

View Answer

Answer: B