Business - Buy back

Buy Back in Two ways: 

Out of profit or fresh issue of shares OR out of Capital s.692(2) as long as

(a) the articles of the company do not forbid this (s.690(1)

(b) the shares must be fully paid up (s,691(1) and

(c) when the shares are bought by the company, it must pay for them at the time of purchase (s.691(2) 

- Convene a BM to pass a BR to either call a GM/ WR with appropriate notice (Art 9, Art 11, s.302, s.307)

When a company buy's back its shares it enters a contract with the s/h so:

- must be approved by the s/h passing…