Companies Act, 1990
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Power of company to purchase own shares. |
211.—(1) Subject to the following provisions of this Part, a company may, if so authorised by its articles, purchase its own shares (including any redeemable shares). | |
(2) Sections 207 (2), 208 and 209 shall apply in relation to the purchase by a company under this section of any of its own shares as those sections apply in relation to the redemption of shares by a company under section 207 . | ||
(3) A company shall not purchase any of its shares under this section if as a result of such purchase the nominal value of the issued share capital which is not redeemable would be less than one tenth of the nominal value of the total issued share capital of the company. |