Section 12. Power of certain Companies to alter memorandum of association

12. Power of certain Companies to alter memorandum of association. Reduction of Capital and Shares. 13. Power to Company to reduce capital. 14. Company to add "and reduce" to its name for a limited period. 15. Company to apply to the Court for an order confirming reduction. 12. Any Company limited by shares may so far modify the conditions contained in its memorandum of association, if authorized to do so by its regulations as originally framed, or as altered by special resolution in manner hereinafter mentioned, as to increase its capital, by the issue of new shares of such amount as it thinks expedient, or to consolidate and divide its capital into shares of larger amount than its existing shares, or to convert its paid up shares into stock; but, save as aforesaid, and save as hereinafter provided, no alteration shall be made by any Company in the conditions contained in its memorandum of association. Reduction of Capital and Shares. Power to Company to reduce capital.