Section 72:

72. Company may hold its own shares (1) Section 71 (1) shall not apply to shares acquired by a company pursuant to section 69 or 110 where— (a) the constitution of the company expressly permits the company to hold its own shares; (b) the Board of the company resolves that the shares concerned shall not be cancelled on acquisition; and (c) except in the case of a private company holding a Global Business Licence or an Authorised Company, as the case may be, the number of shares acquired, when aggregated with shares of the same class held by the company pursuant to this section at the time of the acquisition does not exceed 15 per cent of the shares of that class previously issued by the company, excluding shares previously deemed to be cancelled under section 71 (1). [Issue 10] C35 – 56 Revised Laws of Mauritius (2) Any share acquired by a company pursuant to section 69 or 110 and, which is held by the company pursuant to subsection (1) shall be held by the company in itself. (3) A share that a company holds in itself under subsection (2) may be cancelled by the Board resolving that the share is cancelled and the share shall be deemed to be cancelled on the making of such a resolution. [S. 72 amended by s. 13 (e) of Act 11 of 2018 w.e.f. 1 October 2018.]