P.U. 173/66
COMPANIES REGULATIONS, 1966
PART IIIA - SHARES BUY BACK BY A COMPANY.



Regulation 18BA. Period of validity of declaration.

(1) A declaration made under regulation 18A shall be valid for shares buy back for a period of six months after the date it was made unless earlier revoked under paragraph (2) .

(2) If during the period specified in paragraph (1) a director is of the opinion that it is likely that the company will not remain solvent, he shall, as soon as practicable-

and upon the lodgement of the notice the declaration shall be deemed to be revoked.
(Ins. P.U.(A) 391 /1998:s.4)


Copyright PNMB-LawNet, 2006. All rights reserved.