Regulation 5A - Board resolution - Securities and Exchange Board of India (Buy Back Of Securities) Regulations, 1998

1 [Board resolution 5A. A company, authorized by a resolution passed by the Board of Directors at its meeting to buy back its shares or other specified securities under first proviso to clause (b) of sub-section (2) of section 77A of the Companies Act, 1956, as inserted by the Companies (Amendment) Act, 2001, shall file a copy of the resolution, with the Board and the stock exchanges, where the shares or other specified securities of the company are listed, within two working days of the date of the passing of the resolution.] ******** 1 Substituted by the SEBI (Buy-back of Securities) (Amendment) Regulations, 2012, w.e.f. 07-02-2012. for the following: Board resolution 5A. (1) A company, authorised by a resolution passed by the Board of Directors at its meeting, to buy back its 20[shares or other specified securities under first proviso to clause (b) of sub-section (2) of section 77A of the Companies Act, 1956, as inserted by the Companies (Amendment) Act, 2001, may buy back its shares or other specified securities subject to the following conditions: (a) before making a public announcement under sub regulation (1) of regulation 8, a public notice shall be given in atleast one English national daily, one Hindi national daily and a regional language daily, all with wide circulation at the place where the registered office of the company is situated, (b) the public notice shall be given within 2 days of the passing of the resolution by the Board of Directors; (c) the public notice shall contain the disclosures as specified in schedule I. (2) A copy of the resolution, passed by the Board of Directors at its meeting, authorising buy back of its shares or other specified securities, shall be filed with the Board and the stock exchanges where the shares or other specified securities of the company are listed, within two days of the date of the passing of the resolution. In the above substituted regulation the words securities wherever occurring was substituted by the words shares and other specified securities by the SEBI (Buy-back of Securities) (Amendment) Regulations, 2004 w.e.f. 18-06-2004.