Section 189 CAMA 2020 Re-issue of shares acquired Where shares are held as treasury shares, the company may at any time—(a) sell the shares (or any of them) for a cash consideration, or(b) transfer the shares (or any of them) for the purpose of or pursuant to an employees’ share scheme.

Section 188 CAMA 2020 Enforceability of contract to acquire shares (1) A contract with a company providing for the acquisition by the company of shares in the company is specifically enforceable against the company, except to the extent that the company cannot perform the contract without thereby being in breach of the provisions of section…

Section 187 CAMA 2020 Limit on number of shares acquired (1) A company shall not hold more than 15% of the nominal value of the issued share capital of any class of its shares as treasury shares. (2) Where a company buys back more than 15% of the issued share capital of any class of…

Section 186 CAMA 2020 Persons from who shares can be bought back A company may buy back its shares— (a) from the existing shareholders or security holders on a proportionate basis ;(b) from the existing shareholders in a manner permitted pursuant to a scheme of arrangement sanctioned by the court ; (c) from the open…

Section 185 CAMA 2020 Payment for share buyback Where a company buys back its shares, payment for the share buyback shall be made from the distributable profits of the company.

Section 184 CAMA 2020 Acquisition by a company of its own shares (1) A limited liability company may purchase its own shares including redeemable shares provided that— (a) a company may only purchase its own shares if so permitted by its articles ;(b) the shareholders shall, by special resolution, approve the acquisition by the company…

Section 183 CAMA 2020 Prohibition of financial assistance by company for acquisition of its shares (1) In this section— (a) “financial assistance” means a gift, guarantee, any form of security or indemnity, a loan or any form of credit or any other financial assistance given by a company, the net assets of which are thereby…

Section 182 CAMA 2020 Section 182 Companies and Allied Matters Act is about Redemption of redeemable preference shares. It is under Transactions By Company In Respect Of Its Own Shares of Chapter 8 of PART B (Incorporation of Companies and Incidental Matters) of the Act. Redemption of redeemable preference shares (1) The provisions of this…

Section 181 CAMA 2020 Section 176 Companies and Allied Matters Act is about Certification of transfers. It is under Transfer And Transmission of Chapter 8 of PART B (Incorporation of Companies and Incidental Matters) of the Act. Certification of transfers (1) When the holder of any share of a company wishes to transfer to any…

Section 180 CAMA 2020 Section 180 Companies and Allied Matters Act is about Protection of beneficiaries. It is under Transfer And Transmission of Chapter 8 of PART B (Incorporation of Companies and Incidental Matters) of the Act. Protection of beneficiaries (1) Any person claiming to be interested in any share, dividend or interest on them,…