76G. Reduction of capital or profits or both on cancellation of repurchased shares

Question 1

76G. Reduction of capital or profits or both on cancellation of repurchased shares

Answer 1

General overview
[76G.01] Section 76G provides that if the re-purchased shares are cancelled, the company has to effect a reduction in its capital and/or profits in accordance to whether the purchase price was paid out of capital or profits or both.