: (1) The company should not purchase (buy back) its own shares or give loans as collateral.
(2) Notwithstanding anything written in sub-section (1), the company may purchase its own shares from the amount of accumulated profits that can be distributed as dividends by informing the office in the following cases:-
(a) If the entire amount of shares issued by the company has been paid up,
(b) If the shares issued by the public company have been registered with the Securities Board,
(c) If there is a provision in the relevant company's regulations to be able to purchase their own shares,
(d) If a special resolution is passed in the general meeting of the respective company so that they can purchase their own shares,
(e) If the loan amount to be repaid by the company is not more than twice the ratio of capital and general reserve fund after the company has purchased its own shares, Explanation: For the purpose of this clause, "loan amount" means the entire secured and unsecured loan amount taken by the company. .
(f) If the amount of shares purchased by the company does not exceed twenty percent of the total paid-up capital and general reserve fund of the company,
(g) If the instructions issued by the office from time to time regarding the purchase of own shares are not adverse.
(3) In accordance with clause (d) of sub-section (2), the following details should be mentioned in the proposal to be submitted to the general meeting:-
(a) Reasons and requirements to purchase your own shares,
(b) details of the valuation of the possible impact on the financial position of the respective company due to the purchase of its own shares,
(c) the type and number of shares proposed to be purchased,
(d) the maximum or minimum amount required to purchase shares as per clause (c) and the financial resources thereof,
(e) Period during which you can purchase your own shares,
(f) Manner of Purchase of Shares,
(G) Other necessary matters to be disclosed in accordance with the prevailing law as determined by the office regarding the purchase of own shares.
(4) If the special resolution as per sub-section (3) is passed by the general meeting, it shall be deemed to have been passedAnd within the period of the month, the related company can purchase its own shares through any of the following methods:-
(a) By purchase through the securities market,
(b) By purchasing the shares allotted to the employees of the company from the respective employees,
(c) by purchase proportionately from the existing shareholders.
(5) According to sub-section (4), if the company purchases its own shares, it shall inform the office of the number of shares purchased, the amount paid and other necessary details within thirty days from the date of purchase of such shares.
(6) In accordance with sub-section (4), an amount equal to the purchase price of your own shares shall be established in a separate capital return reserve fund and deposited in that fund and the amount of that fund shall be retained as paid-up capital.
(7) Pursuant to sub-section (4), if the company has purchased its own shares, it shall cancel the shares it has purchased within one hundred and twenty days from the date of such purchase.
(8) According to this section, after purchasing shares of a class, the company cannot issue shares of the same class again, except for issuing bonus shares or paying off its obligations, not later than two years after the purchase of its own shares.
(9) Notwithstanding anything written elsewhere in this section, such company cannot purchase its own shares in such a way that the minimum number of shareholders to be maintained by the public company is reduced or the minimum paid-up capital is reduced.
(10) Other conditions in which the company cannot purchase its own shares and other conditions to be followed while purchasing its own shares shall be as prescribed.