LawgistThe Companies Act
69Transfer of certain sums to capital redemption reserve account
(1) Where a company purchases its own shares out of free reserves or securities premium account, a sum equal to the nominal value of the shares so purchased shall be transferred to the capital redemption reserve account and details of such transfer shall be disclosed in the balance sheet.
(2) The capital redemption reserve account may be applied by the company, in paying up unissued shares of the company to be issued to members of the company as fully paid bonus shares.
Download our fully-offline, High speed android app.- Click here
SHARE CAPITAL AND DEBENTURES
- 43 Kinds of share capital
- 44 Nature of shares or debentures
- 45 Numbering of share
- 46 Certificate of shares
- 47 Voting right
- 48 Variation of shareholders‘ right
- 49 Calls on shares of same class to be made on uniform basis
- 50 Company to accept unpaid share capital, although not called up
- 51 Payment of dividend in proportion to amount paid-u
- 52 Application of premiums received on issue of shares
- 53 Prohibition on issue of shares at discount
- 54 Issues of sweat equity share
- 55 Issue and redemption of preference shares
- 56 Transfer and transmission of securities
- 57 Punishment for personation of shareholder
- 58 Refusal of registration and appeal against refusal
- 59 Rectification of register of members
- 60 Publication of authorised, subscribed and paid-up capital
- 61 Power of limited company to alter its share capital
- 62 Further issue of share capital
- 63 Issue of bonus share
- 64 Notice to be given to Registrar for alteration of share capital
- 65 Unlimited company to provide for reserve share capital on conversion into limited company
- 66 Reduction of share capital
- 67 Restrictions on purchase by company or giving of loans by it for purchase of its shares
- 68 Power of company to purchase its own securities
- 69 Transfer of certain sums to capital redemption reserve account
- 70 Prohibition for buy-back in certain circumstances
- 71 Debenture
- 72 Power to nominate
