Malaysia legislation
Section 51
Section 51
Alteration of share capital
(a)
(Deleted by Act A1367);
(b)
consolidating and dividing all or any of its share capital;
(c)
subdividing its shares or any of them, so however that in the subdivision the proportion between the amount paid and the amount (if any) unpaid on each reduced share shall be the same as it was in the case of the share from which the reduced share is derived;
(d)
converting all or any of its paid-up shares into stock and reconverting that stock into paid-up shares;
(e)
cancelling shares which, at the date of the passing of the resolution in that behalf, have not been taken or agreed to be taken by any persons, and diminishing the amount of the share capital by the amount of the shares so cancelled;
(f)
redenominating the currency of any shares by the conversion of shares denominated in one currency to the same number of shares of another currency with the prior written consent of the creditor, if any.
(1A)
A redenomination of the currency of any shares under paragraph (1)(f) shall be deemed not to effect a cancellation of the existing shares and the issue of fresh shares.
(2)
A cancellation of shares under paragraph (1)(e) shall not be deemed to be a reduction of share capital within the meaning of this
Act.
(3)
(Deleted by Act A1367).
Labuan Companies 65
(4)
(Deleted by Act A1367).
Validation of shares improperly issued