Section 23. Power to reduce capital by cancellation of unissued shares

23. Power to reduce capital by cancellation of unissued shares. Sub-division of Shares. 24. Shares may be divided into shares of smaller amount. 23. Any Company limited by shares may so far modify the conditions contained in its memorandum of association, if authorized so to do by its regulations as originally framed or as altered by special resolution, as to reduce its capital by cancelling any shares which, at the date of passing such resolution, have not been taken or agreed to be taken by any persons; and the provisions as to reduction of capital contained in the other sections of this Act shall not apply to any reduction made in pursuance of this section. Sub-division of Shares.