Companies Act, 1990
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Application of section 108 (6) to dealings by company in its own securities. |
223.—Subsection (6) of section 108 , in its application to dealings by a company in its own securities, shall not preclude a company from dealing in its own shares at any time by reason only of information in the possession of an officer of that company if— | |
(a) the decision to enter into the transaction was taken on its behalf by a person other than the officer, and | ||
(b) the information was not communicated to that person and no advice relating to the transaction was given to him by a person in possession of the information. |