Jurisdiction(s):
United Kingdom

Key definition

Consolidation definition

What does Consolidation mean? In company law, consolidation (also called a share consolidation or reverse share split) is a share capital reorganisation in which a company combines existing shares into a smaller number of shares with a higher nominal value, typically without changing the aggregate nominal value of the issued share capital or shareholders’ proportional interests (subject to fractional entitlements). Example: five 5p shares become one 25p share. The power to consolidate shares is provided by legislation (Companies Act 2006 in the UK and Companies Act 2014 in Ireland) and is usually exercised by ordinary resolution, with implementation by the board in...

CIETAC Arbitration Rules 2015: Joinder and Consolidation—Applications, Criteria, Tribunal Formation and Procedural Effects (Archived; superseded by 2024 revisions)

Published by a LexisNexis Arbitration expert

Practice notes

ARCHIVED: This Practice Note has been archived and is not maintained

NOTE: On 5 September 2023, CIETAC announced amendments (the Revisions) to its 2015 arbitration rules, driven by the need for greater flexibility and efficiency in a digital era and by developments in international arbitration practice, following a revision programme begun in April 2021. Spanning more than 30 articles, the Revisions cover digital case management, multi-tiered arbitration agreements, jurisdictional matters, multi-contract arbitrations, procedural issues and other complex topics. The Revisions will take effect on 1 January 2024 and will apply to all CIETAC arbitrations commenced from that date. CIETAC’s current arbitration rules have been in force since 1 January 2015 (the CIETAC rules 2015). This Practice Note is UNDER REVIEW—it presently reflects CIETAC’s structure and functions as described in the CIETAC Rules 2015. It addresses arbitration under the CIETAC Arbitration Rules 2015 (CIETAC Rules), which generally govern arbitrations accepted by CIETAC on or after 1 January 2015 (CIETAC, art 84). For guidance on arbitration under the CIETAC Rules 2012, see: CIETAC arbitration—overview...

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Kevin Hong

Norton Rose Fulbright

Kevin is an Of Counsel in the Dispute Resolution Group of Norton Rose Fulbright Hong Kong. Kevin's practice focuses on international arbitration and commercial litigation. He advises local and multinational corporations on fraud and asset recovery and in resolving joint venture, shareholders, shipping, sale of goods, product liability, insurance and other contractual disputes. In particular, he has significant experience representing clients in construction related disputes. Kevin has represented clients in arbitration proceedings conducted under the HKIAC, UNCITRAL, SIAC, CIETAC and LMAA rules as well as ad hoc arbitration proceedings in a number of jurisdictions. Kevin has contributed to arbitration publications for various major publishers in the region including Arbitration in Hong Kong: A Practical Guide, 2nd Edition, Construction Arbitration in Hong Kong: A Practical Guide and BAC arbitration: a step-by-step guide. Kevin is currently serving as a regional representative for North Asia for the...

Web page updated on 21/05/2026

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