Amendment of Article 105 of the 1986 Order
6. In Article 105 of the 1986 Order (disapplication of pre-emption rights) after paragraph (2) insert –
“(2A) Paragraphs (1) and (2) apply in relation to a sale of shares which is an allotment of equity securities by virtue of Article 104(3A) as if –
(a)in paragraph (1) for “Where the directors of a company are generally authorised for the purposes of Article 90, they” there were substituted “The directors of a company” and the words “pursuant to that authority” were omitted, and
(b)in paragraph (2), the words from “Where” to “otherwise), the” there were substituted “The” and, in sub-paragraph (a), the words “to be made pursuant to that authority” were omitted.”.