(1) In this section -
"ordinary shares" means shares other than preference shares;
"preference shares" means shares -
(a) which do not carry any right to dividends other than dividends at a rate per cent of the nominal value of the shares which is fixed, and
(b) which carry rights in respect of dividends and capital which are comparable with those general for fixed-dividend shares quoted on a stock exchange in the State;
"new consideration not derived from ordinary shares" means new consideration other than consideration consisting of the surrender, transfer or cancellation of ordinary shares of the company or any other company or consisting of the variation of rights in ordinary shares of the company or any other company, and other than consideration derived from a repayment of share capital paid in respect of ordinary shares of the company or of any other company.
(2) Where a company -
(a) repays any share capital or has done so at any time on or after the 27th day of November, 1975,
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