18.—(1) There is excluded from article 14 the issue by a company of its own shares or share warrants, and the issue by any person of his own debentures or debenture warrants.
(2) In this article—
(a)“company” means any body corporate other than an open-ended investment company;
(b)“shares” and “debentures” include any investment of the kind specified by article 76 or 77;
(c)“share warrants” and “debenture warrants” mean any investment of the kind specified by article 79 which relates to shares in the company concerned or, as the case may be, debentures issued by that company.