Section 55
of International Business Companies Order, 2000
ORDERIn forceProvision 56 of 189
Section 55
Where shares in an IBC are held by the IBC as treasury shares, such shares of the IBC are not entitled to vote or to have dividends paid thereon and, except for the purposes of determining the capital of the IBC, shall not be regarded as outstanding for any purpose under this Order.
Alteration of capital/surplus.