Section 113 — Companies Act 1993: Purchase of shares by third party

113 Purchase of shares by third party (1) Sections 112 to 112C apply to the purchase of shares by a person with whom the company has entered into an arrangement for purchase in accordance with section 111(2)(b) of this Act subject to such modifications as may be necessary, and, in particular, as if references in that section to the board and the company were references to that person. (2) Every holder of shares that are to be purchased in accordance with the arrangement is indemnified by the company in respect of loss suffered by reason of the failure by the person who has agreed to purchase the shares to purchase them at the price nominated or fixed by arbitration, as the case may be. Section 113(1): amended, on 17 September 2008, by section 8 of the Companies (Minority Buy-out Rights) Amendment Act 2008 (2008 No 69).