Skip to content
Solved
SearchBrowse
Sign in

Contents

Legislation
Income Tax (Earnings and Pensions) Act 2003

Crossheading Introduction

  • Section 435 Application of this Chapter
  • Section 436 “Convertible securities”
  1. Introduction
  2. “Convertible securities”

Section 436 | “Convertible securities”

From legislation.gov.uk

For the purposes of this Chapter securities are convertible securities if—F1

(a)they confer on the holder an entitlement (whether immediate or deferred and whether conditional or unconditional) to convert them into securities of a different description,F1F2

(b)a contract, agreement, arrangement or condition authorises or requires the grant of such an entitlement to the holder if certain circumstances arise, or do not arise, orF1

(c)a contract, agreement, arrangement or condition makes provision for the conversion of the securities (otherwise than by the holder) into securities of a different description.F1

Notes

  1. F1

    Pt. 7 Ch. 3 substituted (1.9.2003 with effect in accordance with Sch. 22 para. 4(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 4(1); S.I. 2003/1997, art. 2

  2. F2

    Words in s. 436(a) substituted (with effect in accordance with Sch. 2 para. 9(4) of the amending Act) by Finance (No. 2) Act 2005 (c. 22), Sch. 2 para. 9(1)

PreviousNext
PrivacyTerms