Section 74: Reissue of shares that company holds in itself

74. Reissue of shares that company holds in itself (1) Subject to subsection (2), section 56 shall apply to the transfer of a share held by a company in itself as if the transfer were the issue of the share under section 52. (2) Subsection (1) shall not apply unless it is specifically provided in the constitution that the company may transfer the shares so held. (3) A company shall not make an offer to sell any share it holds in itself or enter into any obligations to transfer such a share where the company has received notice in writing of a take-over scheme. [S. 74 amended by Act 156 (1) (e) of Act 22 of 2005 w.e.f. 28 September 2007.]