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of <h1>Section 67: Limits on Company Share Buybacks, Financial Assistance, and Employee Share Schemes with Strict Penalties</h1> Section 67 restricts a company limited by shares or by guarantee with share capital from buying its own shares unless done as a capital reduction under the Act. A public company is barred from providing financial assistance, directly or indirectly, for the purchase or subscription of its own or its holding company's shares, except for ordinary banking business, employee share schemes approved by special resolution, and limited employee loans (excluding directors and key managerial personnel). Voting rights not directly exercised by employees must be disclosed in the Board's report. The provision does not affect redemption of preference shares. Contravention attracts significant fines for the company and fines and possible imprisonment for defaulting officers.
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