18A.—(1) A company does not carry on an activity of the kind specified by article 14 by purchasing its own shares where [F2section 724 of the Companies Act 2006] (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 [F3section 727 (Treasury shares: disposal) or 729 (Treasury shares: cancellation) of that Act].
(3) In this article “shares held as treasury shares” has the same meaning as in that Act.]
Textual Amendments
F1Art. 18A inserted (1.12.2003) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2003 (S.I. 2003/2822), arts. 1, 3
F2Words in art. 18A(1) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 13(3)(a)
F3Words in art. 18A(2) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 13(3)(b)