Reduce Capital - Resolution Form - Corporate Resolutions 2026

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The document is a resolution adopted by the directors of a corporation authorizing a corporate officer to reduce the corporation's capital assets by a specified amount. It outlines the purpose of the reduction and includes certification from the Secretary confirming the resolution's adoption.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the name of your corporation in the first blank space. This identifies the entity involved in the resolution.
In the next section, specify the authorized corporate officer or representative who will act on behalf of the corporation. Fill in their name clearly.
Indicate the amount by which you wish to reduce capital assets in the designated field. Ensure this figure is accurate as it reflects your financial decision.
Provide a detailed explanation of what constitutes the capital assets being reduced, such as cash or other assets, in the appropriate section.
Document the purpose of this resolution by explaining why this action is necessary for your corporation's operations.
Finally, ensure that all directors sign and date the form at the bottom to validate the resolution during a regular or special meeting.

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How to write a written resolution?

7 steps for writing a resolution Put the date and resolution number at the top. Give the resolution a title that relates to the decision. Use formal language. Continue writing out each critical statement. Wrap up the heart of the resolution in the last statement.

What is the difference between ordinary resolution and written resolution?

A written resolution is not a type of resolution in the same way that an ordinary or a special one is. Instead, a written resolution is a process that private limited companies can use to pass ordinary and special resolutions instead of by holding a general meeting.

What is a resolution for capital reduction?

Resolution (member): reduction of share capital Shareholder resolutions to reduce or cancel a companys issued share capital by reducing (i) the number of shares, (ii) the nominal value of shares or (iii) the amount paid up on shares. Whichever resolution is used, it must be passed as a special resolution.

What is the purpose of a written resolution?

A written resolution is an alternative way for shareholders to vote on a resolution that requires their approval to become effective. Importantly, the company does not need to convene a general meeting.

What is a written resolution for capital reduction?

The Solvency Statement must be made no more than 15 days before the special resolution to reduce the capital is passed. The shareholders of the company then pass a special resolution approving the reduction. A special resolution requires the approval of at least 75% of the shareholders.

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Can a company reduce its capital by which resolution?

Pass a special resolution that is approved by the members. 2. Apply for a court order to approve the reduction. If approved, you must file a Notice of Court Order for Approval of Reduction of Share Capital by Special Resolution under section 78G transaction within 90 days from the date of the Order.

Under what circumstances is capital reduction necessary?

Capital reduction may be undertaken for various reasons, such as restructuring the company, returning excess capital to shareholders, improving capital efficiency, writing off accumulated losses, or increasing dividend payouts.