76DA. Contingent purchase contract Flashcards
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76DA. Contingent purchase contract
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General overview
[76DA.01] The definition of a “contingent purchase contract” is stated in s 76DA(9). It is a conditional contract which binds the company to acquire or purchase the shares, subject to any conditions, but which does not amount to a contract to purchase the shares where both the company and the member are bound. It is akin to a call option in favour of the company.
