Article 5 Redemption or purchase of own shares out of capital by a private company: prescribed form of, and information with respect to the nature of the company’s business to be contained in, a directors’ statement
(1)
The directors’ statement required by section 714 (directors’ statement to be made where a private company makes a payment out of capital for the redemption or purchase of its own shares) must—
(a)
be in writing;
(b)
indicate that it is a directors’ statement made under that section; and
(c)
be signed by each of the company’s directors.
(2)
The statement must state—
(a)
whether the company’s business includes that of a banking company; and
(b)
whether its business includes that of an insurance company.