76D. Authority for selective off-market acquisition

Question 1

76D. Authority for selective off-market acquisition

Answer 1

General overview
[76D.01] It is also an off-market purchase by a company of its own shares from selected members or associated persons only. It requires a special resolution by the company, with the persons or associated persons’ whose shares are being acquired abstaining from voting on the resolution. The procedures for effecting the share buyback are contained in s 76D(1)–(14).