n Without Prejudice - Share buy-backs : company law
|Article Title||Share buy-backs : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Oct 2012|
|Pages||29 - 30|
The Companies Act (2008) provides for two methods through which a company can acquire its own shares. The first is the mechanism set out in s48 of the Act. This section essentially provides that a company may, to the extent that it is solvent and liquid, buy-back its own shares. From an approval perspective, the requirements of s48 are minimal and only require the approval (or decision) of the board.
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