The Companies Act No. 17 of 2015▤
Determination of available profits
(1) The available profits of the company are determined as follows— (a) first— Determine the profits of the company by reference t…
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1,019 results · The Companies Act No. 17 of 2015
The Companies Act No. 17 of 2015▤
What profits are available
(1) For the purposes of this Division, the available profits of the company, inrelation to the redemption or purchase of any of it…
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The Companies Act No. 17 of 2015▤
The permissible capital payment
A payment that, in accordance with this Division, can be made by a company out of capital in respect of the redemption or purchase…
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The Companies Act No. 17 of 2015▤
Power of private limited company to redeem or purchase own shares out of capital
A private limited company may in accordance with this Division, but subject to any restriction or prohibition in the company's art…
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The Companies Act No. 17 of 2015▤
Interpretation: Division 4
In this Division— (a) a reference to payment out of capital is to any payment so made, whether or not it would, apart from this se…
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The Companies Act No. 17 of 2015▤
Notice to Registrar of cancellation of shares
(1) If, on the purchase by a company of any of its own shares in accordance with this Part— (a) section 526 does not apply (so tha…
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The Companies Act No. 17 of 2015▤
Return of purchase of own shares to be lodged with Registrar
(1) Within fourteen days after a company purchases shares under this Division, it shall lodge with the Registrar for registration…
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The Companies Act No. 17 of 2015▤
How shares purchased are to be treated
If a limited company makes a purchase of its own shares in accordance with this Division, then— (a) if section 458 applies, the sh…
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The Companies Act No. 17 of 2015▤
Payments apart from purchase price to be made out of distributable profits
(1) A payment made by a company in consideration of— (a) acquiring any right with respect to the purchase of its own shares under…
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The Companies Act No. 17 of 2015▤
Company’s right to purchase own shares not assignable
The rights of a company under a contract authorised under section 451 or 458 are not capable of being assigned.
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The Companies Act No. 17 of 2015▤
Enforcement of right to inspect copy or memorandum
(1) If a company fails to comply with a requirement of section 459, the company, and each officer of the company who is in default…
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The Companies Act No. 17 of 2015▤
Copy of contract or memorandum to be available for inspection
(1) This section applies to a company that has entered into— (a) a contract approved under section 451; or (b) a contract for a pu…
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The Companies Act No. 17 of 2015▤
Approval for company to make market purchase
(1) A company may make a market purchase of its own shares only if the purchase has been approved by a resolution of the company.…
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The Companies Act No. 17 of 2015▤
Release of company’s rights under contract for off-market purchase
(1) An agreement by a company to release its rights under a contract approvedunder section 451 is void unless the terms of the rel…
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The Companies Act No. 17 of 2015▤
Resolution approving variation: disclosure of details of variation
(1) This section applies to a resolution passed by a company under section 454. (2) The company shall ensure that a copy of the pr…
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The Companies Act No. 17 of 2015▤
Resolution approving variation: exercise of voting rights
(1) This section applies to a resolution passed by a company to confer, vary, revoke or renew an approval to vary a contract under…
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The Companies Act No. 17 of 2015▤
Variation of contract for off-market purchase
(1) A company may agree to a variation of a contract approved under section451 only if the variation is approved in advance in acc…
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The Companies Act No. 17 of 2015▤
Resolution approving off-market purchase: disclosure of details of contract
(1) This section applies to a resolution passed by a company to confer, vary, revoke or renew an approval to make a purchase under…
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The Companies Act No. 17 of 2015▤
Resolution authorising off-market purchase: exercise of voting rights
(1) This section applies to a resolution to confer, vary, revoke or renew an approval for the purposes of section 451. (2) If the…
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The Companies Act No. 17 of 2015▤
Authorisation for off-market purchase
(1) A company may make an off–market purchase of its own shares under acontract but only if— (a) the terms of the contract have be…
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The Companies Act No. 17 of 2015▤
Approval for company to purchase own shares
(1) A limited company may purchase its own shares only— (a) by an off-market purchase, under a contract approved in advance in acc…
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The Companies Act No. 17 of 2015▤
Financing of purchase of company's own shares
(1) A private limited company may purchase its own shares out of capital in accordance with Division 4. (2) Subject to subsection…
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The Companies Act No. 17 of 2015▤
Purchase of company’s own shares
(1) A limited company may not purchase its own shares unless they are fully paid. (2) A limited company that purchases its own sha…
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The Companies Act No. 17 of 2015▤
Power of limited company to purchase own shares
(1) A limited company having a share capital may purchase its own shares (including any redeemable shares), subject to— (a) the fo…
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