Article 3 Company dealing in own shares as principal

After article 18 of the principal Order insert—

“Dealing by a company in its own shares

18A.

(1)

A company does not carry on an activity of the kind specified by article 14 by purchasing its own shares where section 162A of the Companies Act 1985^f1 (Treasury shares) applies to the shares purchased.

(2)

A company does not carry on an activity of the kind specified by article 14 by dealing in its own shares held as treasury shares, in accordance with section 162D of that Act (Treasury shares: disposal and cancellation).

(3)

In this article “shares held as treasury shares” has the same meaning as in that Act.”.