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of <h1>Companies Must Follow Rule 8 for Buy-Backs: Accurate Offers, No Borrowed Funds, Directors Responsible for Content</h1> Companies engaging in the buy-back of securities must adhere to specific obligations under Rule 8 of the Companies Law. They must ensure the letter of offer contains accurate and material information, with directors accepting responsibility for its contents. No shares can be issued until the offer closes, and a separate bank account must confirm funds for the buy-back, with payments made only in cash or bank draft. The offer cannot be withdrawn after filing with the Registrar of Companies, and funds for buy-back cannot be sourced from borrowed money from banks or financial institutions.
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