Regulation 6 - Buy-back from existing security-holders - Securities and Exchange Board of India (Buy Back Of Securities) Regulations, 1998

CHAPTER III BUY-BACK THROUGH TENDER OFFER Buy-back from existing 1 [security-holders] 6. A company may buy-back its 2 [shares or other specified securities] from its existing 3 [security-holders] on a proportionate basis in accordance with the provisions of this Chapter: 4 [Provided that fifteen percent of the number of securities which the company proposes to buy back or number of securities entitled as per their shareholding, whichever is higher, shall be reserved for small shareholders.] ******** 1 Substituted for the word shareholders by the SEBI (Buy-back of Securities) (Amendment) Regulations, 1999, w.e.f. 21-09-1999. 2 Substituted by the SEBI (Buy-back of Securities) (Amendment) Regulations, 2004 w.e.f. 18-06-2004 for the words specified securities , which had earlier been substituted for the word shares by the SEBI (Buy-back of Securities) (Amendment) Regulations, 1999, w.e.f. 21-09-1999. 3 Substituted for the word shareholders by the SEBI (Buy-back of Securities) (Amendment) Regulations, 1999, w.e.f. 21-09-1999. 4 Inserted by the SEBI (Buy-back of Securities) (Amendment) Regulations, 2012, w.e.f. 07-02-2012.