: (1) If the company wants to reduce its share capital, it may reduce the share capital by passing a special resolution on the matter in the general meeting and obtaining the approval of the court and making necessary changes or amendments in the articles of association and regulations accordingly.
(2) After obtaining the approval of the court according to sub-section (1), the company may reduce the share capital as follows:-
(a) If the amount of the shares demanded in installments is not paid, by retaining only the capital that has been paid,
(b) by returning the paid-up capital,
(c) In case of heavy loss to the company or in case of natural calamity, reduction of the nominal value of the shares.
(3) Notwithstanding anything written in sub-section (2), a company which has entered into liquidation in accordance with the prevailing law cannot reduce its capital in accordance with this section.