(1)No director of a company or any of its key managerial personnel shall buy in the company, or in its holding, subsidiary or associate company—(a)a right to call for delivery or a right to make delivery at a specified price and within a specified time, of a specified number of relevant shares or a specified amount of relevant debentures; or(b)a right, as he may elect, to call for delivery or to make delivery at a specified price and within a specified time, of a specified number of relevant shares or a specified amount of relevant debentures.
