Section 59 — Companies Act 1993: Acquisition of company's own shares

59 Acquisition of company's own shares (1) Subject to section 52 of this Act, a company may purchase or otherwise acquire shares issued by it if it is expressly permitted to do so by its constitution. (2) The purchase or acquisition of the shares must be made in accordance with section 60 or section 63 or section 65 of this Act. (3) Nothing in this section or in sections 60 to 67 of this Act limits or affects— (a) An order of the Court that requires a company to purchase or acquire its own shares; or (b) Sections 110 and 118 of this Act (which relate to the right of a shareholder to require a company to purchase shares). Subsection (3)(b) was substituted, as from 1 July 1994, by section 8 Companies Act 1993 Amendment Act 1994 (1994 No 6).