Notwithstanding section 658 of the Companies Act 2006 [2006 c. 46.] and any rule of law which prohibits or restricts a company from acquiring its own shares, an umbrella company may, for the account of any of its sub-funds, and in accordance with FCA rules, acquire by subscription or transfer for consideration, shares of any class or classes, however described, representing other sub-funds of the same umbrella company.
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 April 2013 - onwards