Section 111: Purchase of shares by third party

111. Purchase of shares by third party (1) Section 110 shall apply to the purchase of shares by a person with whom the company has entered into an arrangement for purchase in accordance with section 109 (2) (b) subject to such modifications as may be necessary, and, in particular, as if references in that section to the Board and the company were references to that person. (2) Every holder of shares that are to be purchased in accordance with the arrangement shall be indemnified by the company in respect of loss suffered by reason of the failure by the person who has agreed to purchase the shares to purchase them at the price nominated or fixed by arbitration, as the case may be.