Buy-back of securities barred where purpose is to delist, and applies to listed companies' share repurchases. Regulation 3 applies the buy-back framework to purchase of shares and other specified securities of a company listed on a stock exchange, and prohibits a listed company from conducting a buy-back that would delist its shares or other specified securities from the exchange.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Buy-back of securities barred where purpose is to delist, and applies to listed companies' share repurchases.
Regulation 3 applies the buy-back framework to purchase of shares and other specified securities of a company listed on a stock exchange, and prohibits a listed company from conducting a buy-back that would delist its shares or other specified securities from the exchange.
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