(1)A company limited by shares may, by special resolution confirmed by an order of the Court modify the conditions contained in its memorandum so is to reorganize its share capital, whether by the consolidation of shares of different classes or by the division of its shares into shares of different classes:Provided that no preference or special privilege attached to or belonging to any class of shares shall be interfered with except by resolution passed by a majority in number of shareholders of that class holding three-fourths of the share capital of that class and confirmed at a meeting of shareholders of that class in the same-manner as a special resolution of the company is required to be confirmed, and every resolution 30 passed shall hind all shareholders of the class.(2)Where an order is made under this section, a certified copy thereof shall he filed with the registrar within twenty-one days after the making of the order or within such further time as the Court may allow, and the resolution shall not take effect until such a copy has been so filed.Reduction of Share Capital.
