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von Göler (Hrsg.) / / § 58a
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§ 58a Simplified capital reduction

(1) Any reduction in the share capital which serves to compensate for depreciations in value or to cover other losses may be effected as a simplified capital reduction.

(2) Simplified capital reduction is permissible only after that part of the capital reserves and retained earnings which together exceeds 10 per cent of the share capital remaining after the reduction has already been released. It is not permissible whilst there is any profit carryforward.

(3) The nominal values of the shares are to be adapted to the reduced share capital in the resolution on simplified capital reduction. The shares must be issued in a full euro amount.

(4) The share capital may be reduced below the minimum nominal value referred to in section 5 (1) if that amount is achieved again by means of a capital increase on which a decision is taken at the same time as the decision on the capital reduction and for which no contributions in kind are determined. The resolutions are null and void if they have not been entered in the Commercial Register within three months after being passed. This period is suspended whilst an action for avoidance or annulment is pending. The resolutions are, as a rule, only to be jointly entered in the Commercial Register.

(5) Sections 58b to 58f apply in addition to sections 53 and 54 concerning amendments to the articles of association.

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