https://www.taxtmi.com/acts?id=15671 When an acquirer or persons acting in concert acquire ninety per cent or more of a company's issued equity share capital they must notify the company and offer to buy remaining minority shares at a price determined by a registered valuer. Majority purchasers must deposit the purchase price in a separate bank account for at least one year and disburse payments within sixty days; the transferor company acts as transfer agent, and undelivered certificates may be deemed cancelled to facilitate transfer and payment. Rights to purchase for unrecorded or deceased shareholders persist for three years, and undisclosed higher consideration received by majority holders must be shared pro rata with minority holders. en-us Thu, 22 Dec 2011 15:39:47 +0530 Thu, 22 Dec 2011 15:40:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15671 When an acquirer or persons acting in concert acquire ninety per cent or more of a company's issued equity share capital they must notify the company and offer to buy remaining minority shares at a price determined by a registered valuer. Majority purchasers must deposit the purchase price in a separate bank account for at least one year and disburse payments within sixty days; the transferor company acts as transfer agent, and undelivered certificates may be deemed cancelled to facilitate transfer and payment. Rights to purchase for unrecorded or deceased shareholders persist for three years, and undisclosed higher consideration received by majority holders must be shared pro rata with minority holders. Act-Rules Bills Thu, 22 Dec 2011 15:39:47 +0530 https://www.taxtmi.com/acts?id=15671