Can a person buy back happens for preference share also?

1) Maximum cap= 25% of (Paid up cap+Free Res) or 25 % of Paid up Equity cap Law- Provided that nothing contained in this clause shall apply to a case where— (c) the buy-back is twenty-five per cent. or less of the aggregate of paid-up capital and free reserves of the company: Provided that in respect of the buy-back of equity shares in any financial year, reference to twenty-five per cent. in this clause shall be construed with respect to its total paid-up equity capital in that financial year; 2) It appears from last sentence as if buy back happens for preference share also, is it?