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QUESTION 3 A company is generally prohibited from giving financial assistance for the purchase of its own shares or that of its holding company, However,

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QUESTION 3 A company is generally prohibited from giving financial assistance for the purchase of its own shares or that of its holding company, However, this prohibition is somehow relaxed by the Companies Act 2016 itself for a non-public listed company. With reference to the Companies Act 2016 and decided cases, examine the above proposition. (Total: 25 marks)

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