Companies Act - Singapore Statutes Online

Reduction of capital or profits or both on cancellation of repurchased shares

76G. Where under section 76C, 76D, 76DA or 76E, shares of a company are purchased or acquired, and cancelled under section 76B(5), the company shall —

(a)	reduce the amount of its share capital where the shares were purchased or acquired out of the capital of the company;
(b)	reduce the amount of its profits where the shares were purchased or acquired out of the profits of the company; or
(c)	reduce the amount of its share capital and profits proportionately where the shares were purchased or acquired out of both the capital and the profits of the company,

by the total amount of the purchase price paid by the company for the shares cancelled.

[21/2005]

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