Commercial Companies Law

Commercial Companies Law — Article 262

The resolution of reduction of the company’s share capital shall be published in accordance with the provisions of this Law, accompanied by a notice inviting all the creditors to submit their objections within a period of thirty (30) days of the date of the publication. A resolution of reduction shall not become effective except after the lapse of the aforesaid period without any objection or after a discharge has been provided by the objecting creditors either by payment of their debts or by giving them appropriate securities.

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