Application of premiums received on issue of shares.

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..... ount" and the provisions of this Act relating to reduction of share capital of a company shall, except as provided in this section, apply as if the securities premium account were the paid-up share capital of the company. (2) Notwithstanding anything contained in sub-section (1), the securities premium account may be applied by the company-- (a) towards the issue of unissued shares of the comp .....

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..... ty shares of the company to be issued to members of the company as fully paid bonus shares; or (b) in writing off the expenses of or the commission paid or discount allowed on any issue of equity shares of the company; or (c) for the purchase of its own shares or other securities under section 68. -
Statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxati .....

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