The extraordinary general meeting may resolve to reduce the issued share capital if it exceeds the needs of the company, provided that such reduction shall not result in reduction of the share capital below the minimum level prescribed in this Law. Such general meeting may also resolve to reduce the issued share capital if the company has sustained losses and has written them off. If as a result of such writing off, the share capital is reduced below the minimum level, the company must carry out the procedure of increasing it to that level within one year from the date of the writing off.
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