Briefly state the provisions of Singapore Companies Act in respect of treasury shares.

The provisions in respect of treasury shares made in Section 76H of the Singapore Companies Act are briefly stated as under. Where ordinary shares or stock are purchased or otherwise acquired by a company in accordance with the provisions of the Act, the company may: hold the shares or stock (or any one of them) or deal with any of them, at any time, as provided hereunder. Where shares are held as treasury shares, a company may at any time: sell the same (or any of them) for cash; transfer the shares(or any of them) for the purposes of or pursuant to any share scheme, whether for employees, directors or other persons; transfer the shares (or any of them) as consideration for the acquisition of shares in or assets of another company or assets of a person; cancel the shares (or any of them); or sell, transfer or otherwise use the treasury shares for such other purposes as Minister may order prescribe.