(1) A company does not carry on an activity of the kind specified by article 14 by purchasing its own shares where section 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 section 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.