Section 90, The Companies Act, 2009

(1) Except as authorised by this Act, a company having ashare capital shall not reduce its issued share capital. (2) For the purpose of this and other sections relating to reduction of share capital any issue of share capital shall include the share premium account and any capital redemption reserve account of a company, and “issued share” capital shall be construed accordingly. (3) In this section “share premium account” means the difference between par value of shares and the amount realized on the sale of shares.