In what circumstances may a company Redeem redeemable preference shares?

Redemption of Redeemable Preference Shares
 Must be authorized the articles.
 Must be redeemed out of profit or proceeds of a fresh issue for that purpose.
 Must be fully paid.
 The premium payable must be provided out of profit or the share premium account.
 If redeemed otherwise than out of the proceeds of a special issue, the capital redemption reserve fund must be created.
 The registrar must be notified within 30 days thereof.

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