(1) This Subdivision applies to both of the following:
(a) a redemption by a CCIV of a redeemable share;
(b) a redemption by a CCIV of a redeemable preference share.
Note: A CCIV may reduce its share capital if the reduction results from a redemption permitted by this Subdivision: see section 1231D.
(2) Part 2H.2 does not apply to the redemption of redeemable preference shares in a CCIV.