Companies Act, 1990
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Contingent purchase contract. |
214.—(1) In this section “contingent purchase contract” means a contract entered into by a company and relating to any of its shares which does not amount to a contract to purchase those shares but under which the company may become entitled or obliged to purchase those shares. | |
(2) A company shall only make a purchase of its own shares in pursuance of a contingent purchase contract if the terms of the contract have been authorised by a special resolution of the company before the contract is entered into and subsections (2) to (7) of section 213 shall apply to such contract and resolution. |