THE CORPORATIONS LAW

CHAPTER 2J - TRANSACTIONS AFFECTING SHARE CAPITAL

PART 2J.2 - SELF-ACQUISITION AND CONTROL OF SHARES

SECTION 259A   DIRECTLY ACQUIRING OWN SHARES  

259A     A company must not acquire shares (or units of shares) in itself except:

(a)  in buying back shares under section 257A; or

(b)  in acquiring an interest (other than a legal interest) in fully-paid shares in the company if no consideration is given for the acquisition by the company or an entity it controls; or

(c)  under a court order; or

(d)  in circumstances covered by subsection 259B(2) or (3).