Corporations Act 2001

CHAPTER 2J - TRANSACTIONS AFFECTING SHARE CAPITAL  

Note: This Chapter is modified for CCIVs: see Division 2 of Part 8B.4 .

PART 2J.2 - SELF-ACQUISITION AND CONTROL OF SHARES  

Note: This Part applies to a CCIV with modifications: see sections 1231J and 1231K .

SECTION 259A  

259A   DIRECTLY ACQUIRING OWN SHARES  
A company must not acquire shares (or units of shares) in itself except:

(a) in buying back shares under section 257A ; or

(b) in acquiring an interest (other than a legal interest) in fully-paid shares in the company if no consideration is given for the acquisition by the company or an entity it controls; or

(c) under a court order; or

(d) in circumstances covered by subsection 259B(2) or (3) .

Note: For the criminal liability of a person dishonestly involved in a contravention of this section, see subsection 259F(3) . Section 79 defines involved .