Section 7 in Securities And Exchange Board Of India (Buy Back Of Securities) Regulations, 1998
7. Additional Disclosures.-
The explanatory statement annexed to the notice under section 173 of the Companies Act, [or the public notice under sub-regulations 5A] [Substituted by S.O. 745(E), dated 8.6.2004] shall contain the disclosures mentioned in regulation [or regulation 5A] [Substituted by S.O. 745(E), dated 8.6.2004] and also the following disclosures;-(a)The maximum price at which the buy-back of [shares or other specified securities] [Instituted by S.O. 1181(E), dated 28.11.2001] shall be made [and whether the Board of Directors of the company are being authorised at the general meeting to determine subsequently the specific price at which the buy-back may be made at the appropriate time] [Substituted by S.O. 745(E), dated 8.6.2004];(b)If the promoter intends to offer their [shares or other specified securities] [Instituted by S.O. 1181(E), dated 28.11.2001],(i)the quantum of [shares or other specified securities] [Instituted by S.O. 1181(E), dated 28.11.2001] proposed to be tendered, and(ii)the details of their transactions and their holdings for the last six-months prior to the passing of the special resolution for buy-back including information of number of [shares or other specified securities] [Instituted by S.O. 1181(E), dated 28.11.2001] acquired, the price and the date of acquisition.
