{
  "url": "https://openlegislation.uk/companies-northern-ireland-order-1986-revoked/article-173",
  "json_url": "https://openlegislation.uk/companies-northern-ireland-order-1986-revoked/article-173.json",
  "legislation": "nisi/1986/1032",
  "legislation_title": "The Companies (Northern Ireland) Order 1986 (revoked)",
  "legislation_url": "https://openlegislation.uk/companies-northern-ireland-order-1986-revoked",
  "path": "article/173",
  "kind": "article",
  "number": "173",
  "heading": "Definitions of “off-market” and “market” purchase",
  "text": "(1) A purchase by a company of its own shares is “off-market” if the shares either—\n(a) are purchased otherwise than on a recognised investment exchange, or\n(b) are purchased on a recognised investment exchange but are not subject to a marketing arrangement on that investment exchange.\n(2) For this purpose, a company's shares are subject to a marketing arrangement on a recognised investment exchange if either—\n(a) they are listed under Part 6 of the Financial Services and Markets Act 2000; or\n(b) the company has been afforded facilities for dealings in those shares to take place on that investment exchange without prior permission for individual transactions from the authority governing that investment exchange and without limit as to the time during which those facilities are to be available.\n(3) A purchase by a company of its own shares is a “market” purchase if it is a purchase made on a recognised investment exchange, other than a purchase which is an off-market purchase by virtue of paragraph (1)(b).\n(4) “Recognised investment exchange” means a recognised investment exchange other than an overseas investment exchange.\n(5) Expressions used in the definition contained in paragraph (4) have the same meaning as in Part 18 of the Financial Services and Markets Act 2000.",
  "extent": "N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "mod. by 1989 NI 19"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "1986 c. 60"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "SI 2001/3649"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisi/1986/1032/article/173",
    "retrieved_at": "2026-10-29T04:48:35.100869+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}