Subsection (1) of this section is the same as Section 50 of the 1908 Act. In subsection (2) there is a change. In Section 48 of the 1908 Act, the company which proposes to reduce its capital must add the words " and reduced " to its name from the date when the petition to the court to confirm a reduction is presented. In most cases, the court dispenses with the use of these words when it is confirming the reduction. The Company Law Reform Committee recommended that the obligation to add the words " and reduced " when the petition is presented should be abolished but that the court should be given power that those words be added to the name of the company for such period as the court thinks fit. Paragraph (a) of this subsection provides accordingly. Subsection (2) (b) is the same as Section 55 of the 1908 Act.
SECTION 74.
Question proposed : " That Section 74 stand part of the Bill."
Question put and agreed to.