The rule in Trevor v Whitworth prohibits the company from purchasing its shares. This rules is now embodied in Section 56 (1) of the Companies Act. However, there are several exceptions to this rule.
If the lending of money is part of the ordinary business of the company and the same is lent in the ordinary course of such business.
If the company has in force a scheme to advance loans to trustees to enable them purchase its fully paid up shares for the benefit of all employees including salaried directors.
If the company has in force a scheme to advance loans to all its bona fide employees other than directors to enable them purchase its fully paid up shares by way of beneficial ownership.