Acquisition of securities : section 48 of the Companies Act 71 of 2008

The amendment of the Companies Act 61 of 1973 in 1999 by Companies Amendment Act 37 of 1999 made it possible for the first time, in South Africa, for a company to acquire its own shares and for a subsidiary to acquire shares in its holding company. The position introduced by the 1999 amendments was repealed in 2011 with the coming into effect of the Companies Act 71 of 2008. I have compared capital maintenance rule under the Companies Act 61 of 1973, as amended in 1999 with capital maintenance rule under the Companies Act 71 of 2008. I have also examined in detailed the requirements to be complied with when a company acquires its shares as well as the requirements to be complied with when a subsidiary acquires shares in its holding company. Copyright

Grantor dc:publisher

University of Pretoria

Year dc:date.issued

2012

Advisor dc:contributor.advisor

• Delport, Petrus Albertus

• Acquisition of shares
• Solvency and liquidity test
• Companies act 61 of 2008
• Memorandum of incorporation
• Capitalmaintenance rule
• Distribution
• Board
• Share repurchase
• Share buyback
• Shareholders
• Companies act 71 of 1973
• UCTD

Statement dc:rights

• © 2011, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria.

Dc Identifier Other

F12/4/371/gm

OAI identifier oai:identifier

oai:repository.up.ac.za:2263/27484