COMPANIES ACT - 1963 (ACT 179)

    Section - 57 - Alteration of Number of Shares

    (1) A company may, by alteration of its Regulations,

    (a) increase the number of its shares by creating new shares;

    (b) reduce the number of its shares by cancelling shares which have not been taken or agreed to be taken by any person or by consolidating its existing shares, whether issued or not, into a smaller number of shares.

    (2) On any consolidation of shares the amounts paid, and any unpaid liability thereon, and any fixed sum by way of dividend or repayment to which such shares were entitled shall be consolidated likewise.