(1) This section applies where a company—
(a) issues shares on terms that they are or are liable to be redeemed, or
(b) agrees to purchase any of its shares.
(2) The company is not liable in damages in respect of any failure on its part to redeem or purchase any of the shares.
This is without prejudice to any right of the holder of the shares other than his right to sue the company for damages in respect of its failure.
(3) The court shall not grant an order for specific performance of the terms of redemption or purchase if the
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