Section 259A — Corporations Act 2001: Directly acquiring own shares

A company must not acquire shares (or units of shares) in itself except: (a) in buying back shares under section 257A; or (b) in acquiring an interest (other than a legal interest) in fully-paid shares in the company if no consideration is given for the acquisition by the company or an entity it controls; or (c) under a court order; or (d) in circumstances covered by subsection 259B(2) or (3). Note: For the criminal liability of a person dishonestly involved in a contravention of this section, see subsection 259F(3). Section 79 defines involved.