Doubt regarding the purpose of Section 52(3) of Companies Act, 2013

**52**. Application of premiums received on issue of shares.—(1) Where a company issues shares at a
premium, whether for cash or otherwise, a sum equal to the aggregate amount of the premium received on
those shares shall be transferred to a “securities premium account” and the provisions of this Act relating
to reduction of share capital of a company shall, except as provided in this section, apply as if the securities
premium account were the paid-up share capital of the company.

**(2)** Notwithstanding anything contained in sub-section (1), the securities premium account may be
applied by the company—

(a) towards the issue of unissued shares of the company to the members of the company as fully
paid bonus shares;

(b) in writing off the preliminary expenses of the company;

(c) in writing off the expenses of, or the commission paid or discount allowed on, any issue of
shares or debentures of the company;

(d) in providing for the premium payable on the redemption of any redeemable preference shares
or of any debentures of the company; or

(e) for the purchase of its own shares or other securities under section 68.

**(3)** The securities premium account may, notwithstanding anything contained in sub-sections (1) and
(2), be applied by such class of companies, as may be prescribed and whose financial statement comply
with the accounting standards prescribed for such class of companies under section 133,—

(a) in paying up unissued equity shares of the company to be issued to members of the company as
fully paid bonus shares; or

(b) in writing off the expenses of or the commission paid or discount allowed on any issue of equity
shares of the company; or

(c) for the purchase of its own shares or other securities under section 68.

Section 52(3) appears to allow the same uses of Securities Premium Account that are already permitted under Section 52(2). What is the practical difference between Section 52(2) and 52(3)? If a company satisfies Section 52(3) conditions, what additional benefit does it get compared to a company covered only by Section 52(2)?