Investment Funds, Companies and Miscellaneous Provisions Act 2005

Amendment of section 254 of Act of 1990.

23.—Section 254 of the Act of 1990 is amended by substituting the following for subsection (2)—

“(2) An investment company shall not purchase its own shares, for the purposes referred to in section 253(2)(b)(ii), unless they are fully paid, but nothing in this subsection shall prevent a purchase being made in accordance with section 255(3).”.