Companies Act, 1990

Application of section 108 (6) to dealings by company in its own securities.

223.—Subsection (6) of section 108 , in its application to dealings by a company in its own securities, shall not preclude a company from dealing in its own shares at any time by reason only of information in the possession of an officer of that company if—

(a) the decision to enter into the transaction was taken on its behalf by a person other than the officer, and

(b) the information was not communicated to that person and no advice relating to the transaction was given to him by a person in possession of the information.