PART II SPECIFIED ACTIVITIES
Chapter VIArranging Deals in Investments
Exclusions
Arrangements for the issue of shares etc.34
1
There are excluded from article 25(1) and (2)—
a
arrangements made by a company for the purposes of issuing its own shares or share warrants; and
b
arrangements made by any person for the purposes of issuing his own debentures or debenture warrants;
and for the purposes of article 25(1) and (2), a company is not, by reason of issuing its own shares or share warrants, and a person is not, by reason of issuing his own debentures or debenture warrants, to be treated as selling them.
2
In paragraph (1), “company", “shares", “debentures", “share warrants" and “debenture warrants" have the meanings given by article 18(2).