Question: In a company constitution there is a pre-emptive clause. Can you explain the purpose of this clause, what type of companies it applies to and

  1. In a company constitution there is a pre-emptive clause. Can you explain the purpose of this clause, what type of companies it applies to and why it was introduced? (5 marks)
  2. Why do companies sometimes want to reduce their share capital and how can they do it?(5 marks)

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