Details
The return of capital is when some of the consideration the shareholder was previously given is paid back to them.
Example: Homer Simpson was allotted 2 $4 ordinary fully paid shares (total value $8). After the return of capital, Homer was returned $4. Homer now holds 2 $2 ordinary fully paid shares.
Navigation
| From the Main Toolbar, go to Company. |
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| Select the Company from the list. |
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| Select Shareholders |  |
Click 
Select Return of Capital
Instructions
CAS 360 will display the Return of Capital screen.
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Field
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Explanation
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Transaction Date
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Input the date of the Return of Capital | ||||||||||||||||||||||||||
| Shareholder |
In the shareholder field, CAS 360 will display a list of the company's current shareholders |
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| Beneficial Owner | CAS 360 will automatically prefill this field if there is a beneficial owner. | ||||||||||||||||||||||||||
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Share Type
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In the Share type field, CAS 360 will display a list of the share types the shareholder holds |
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Number of shares
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Input the relevant number of shares affected | ||||||||||||||||||||||||||
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Capital Returned Per Share
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Amount returned to the shareholder per share held. Cannot be an amount more than the value paid on the shares. | ||||||||||||||||||||||||||
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Capital reduction type
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Select between single or multiple shareholder company. | ||||||||||||||||||||||||||
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Meeting Status
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Select the meeting status of the member which will appear on the Resolutions. | ||||||||||||||||||||||||||
| Notes | Type to add extra notes to appear on the Register of Members | ||||||||||||||||||||||||||
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Click 
Forms Prepared
CAS 360 will display the Document Production screen and automatically select the documents required:
- Cover Letter
- Company Change Summary
- Register of Shareholders
- Allotment Journal
- Directors Minutes or Resolution
- Notice of Members Meeting
- Members Minute of Resolution
- Member Consent
- Share Certificate
Equal Reduction vs Selective Reduction
CAS 360 will automatically select between Equal or Selective reduction on the Companies Office form.
An equal reduction will be selected when the following conditions are met:
- It relates only to ordinary shares.
- It applies to each holder of ordinary shares in proportion to the number of ordinary shares they hold.
- The terms of the reduction are the same for each holder of ordinary shares.
If not all conditions are met, CAS 360 will specify the transaction as a Selective reduction.