Buy-back obligations: companies must ensure truthful disclosures, cash-only payment and promoter trading restrictions during the offer. Companies conducting buy-backs must ensure offer materials are truthful and directors accept responsibility, pay consideration only in cash, not issue fresh securities during the buy-back period except to discharge disclosed subsisting obligations, and may not withdraw an offer after filing the draft letter of offer or making a public announcement. Promoters and associates are barred from dealing in the company's securities from board or shareholder approval until closing, and the company must appoint a compliance officer, report extinguished certificates to exchanges within the prescribed working days, refrain from buying locked-in or non-transferable securities until transferable, and publish specified post-buy-back disclosures.