The amount received as securities premium can be used for following purposes :
(a) In purchasing its own shares.
(b) Issuing fully paid bonus shares to the members.
(c) Writing off preliminary expenses of the company.
(d) Writing off the expenses of, or the commission paid, or discount allowed on any issue of securities or debentures of the company.
(e) Providing for the premium payable on the redemption of any redeemable preferences shares or any debentures of the company.
