(1) This section applies in relation to a sale of shares that is an allotment of equity securities by virtue of [section 560(3)] (sale of shares held by company as treasury shares).
(2) The directors of a company may be given power by the articles, or by a special resolution of the company, to allot equity securities as if section 561 (existing shareholders' right of pre-emption)—
(a) did not apply to the allotment, or
(b) applied to the allotment with such modifications as the directors may determine.
(3) The provisions of section 570(2)
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