It is clear that all companies including joint-stock company should have proprietary capital, but it is particularly important in the joint-stock company. One of the features of the company's capital is its steady and fixed nature, but the company may make some changes in its capital, due to some reasons, whether compulsorily or voluntarily. The reduction of company's capital has different effects on third parties. Therefore, the issue of protecting the rights of third parties against capital cuts in joint- stock companies is one of the most important and considerate issues. According to this descriptive-analytic study, third parties against joint-stock company can be divided into two main categories including bondholders and creditors of the company, and the rights of these persons should be considered when the capital is reduced. Before proceeding to reduce capital, the decision of the general assembly shall be based on the repayment of the government-issued bonds as well as their interests. Also, the rights of creditors, including creditors with and without bail, should be considered. In case of non-compliance, the legislator has provided creditors and bondholders with the right to complain against the reduction of capital, in case their demand was before the reduction.
