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StatuteCompanies Act 1993

Section 67B — Companies Act 1993: Rights and obligations of shares company holds in itself suspended

Text of the provision Official document

67B Rights and obligations of shares company holds in itself suspended (1) The rights and obligations attaching to a share that a company holds in itself pursuant to section 67A of this Act shall not be exercised by or against a company while it holds the share. (2) Without limiting subsection (1) of this section, while a company holds a share in itself pursuant to section 67A of this Act, the company shall not— (a) Exercise any voting rights attaching to the share; or (b) Make or receive any distribution authorised or payable in respect of the share. Sections 67A to 67C and the preceding heading were inserted, as from 1 July 1994, by section 3 Companies Act 1993 Amendment Act (No 2) (1994 No 82).

Official source: legislation.govt.nz

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