Arrangements for the issue of shares etc.U.K.
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).
[F1(3) This article is subject to article 4(4).]
Textual Amendments
F1Art. 34(3) inserted (1.4.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (S.I. 2017/488), arts. 1(2), 12(6)