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Private Company Privileges Form of Contracts Pre-incorporation Contracts Bills of Exchange & Promissory Notes Execution of Deeds Abroad Power to Have Official Seal Authentication of Documents Dating of Prospectus Specific Requirements Exemption from Compliance Advertisements on Prospectuses Publishing Guildelines by Commission Expert's Consent Registration of Prospectus One Document Prospectus More Than One Document Prospectus Submission of Certified Copies Civil liability for Misstatements Criminal Liability for Misstatements Right to Damages and Compensation Offer of Shares or Debentures Interpretation of Provisions Prohibition of Allotment: Subscription Prohibition of Allotment: Statement Effect of Irregular Allotment Applications for Shares & Debentures Allotment of Shares and Debentures Return as to Allotments Power to Pay Commissions Financial assistance prohibited Definitions Transactions not prohibited by 47A Restriction for Listed Companies Section 47A for Unlisted Companies 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Companies Ordinance Cap 32

Section Num: 49E       Version Date 30/06/1997

Authority for contingent purchase contract

(1) A contingent purchase contract is a contract entered into by a company and relating to any of its shares-

(a) which does not amount to a contract to purchase those shares;

but

(b) under which the company may (subject to any conditions) become entitled or obliged to purchase those shares.

(2) A listed company may only make a purchase of its own shares in pursuance of a contingent purchase contract if the proposed contingent purchase contract is authorized in advance by a special resolution of the company before the contract is entered into, and section 49BA(5) and (6) applies to authorization for a proposed contingent purchase contract as to authorization for a proposed purchase agreement under section 49BA(1)(c).

(3) An unlisted company may only make a purchase of its own shares in pursuance of a contingent purchase contract if the contract is approved in advance by a special resolution of the company before the contract is entered into; and section 49D(3), (4), (5) and (6) applies to the contract and its terms.

(Added 77 of 1991 s. 4)

[cf. 1985 c. 6 s. 165 U.K.]

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