Companies Act 2014
Additional (general) provisions relating to acquisition by PLCs of own shares
(a) an acquisition by a PLC of its own shares, in so far as the consideration therefor is profits available for distribution, shall be in compliance with the restriction on the distribution of assets specified in section 1082 ; and
(b) a PLC shall not purchase any of its shares if as a result of such purchase the nominal value of its issued share capital which is not redeemable would be less than one-tenth of the nominal value of the total issued share capital of the PLC.
(a) the principle of equal treatment of all shareholders who are in the same position; and