Which of the following is correct in relation to the purchase by a company of its own shares?

Which of the following is correct in relation to the purchase by a company of its own shares?

(i) If a company wishes to purchase its own shares it must have authority in its Articles of Association.

(ii) A private company may purchase its own shares out of capital.

(iii) It is not possible for a company to purchase all its own shares.
A . (i) only
B . (i) and (ii) only
C . (ii) and (iii) only
D . (i), (ii) and (iii).

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Answer: D