Section 60

Where the High Court makes an order under subsection (1) to reduce the share capital of the prescribed institution, the Court may, if, on the expiry of thirty days from the date of any call made by the prescribed institution on its members to pay on their respective shares, payment on any such shares has not been made, order that such shares for which payment has not been made be cancelled.

Where the share capital of a prescribed institution is reduced under subsection (1), or any of its shares is cancelled under subsection (2), the Bank, or the appointed person, as the case may be, may cause the constituent documents of the prescribed institution to be altered accordingly.

The powers conferred on the Bank and the appointed person under this section shall be in addition to any power exercisable under subsection 64(1) of the *Companies Act 1965, and where an application is made to the High Court under subsection (1), the High

Court may exercise any of the powers conferred on it under section 64 of the *Companies Act 1965 in relation to an application for confirmation and subsections 64(9) and 64(10) of that Act shall apply to the application.

Extension of jurisdiction