Section 1032 | Meaning of “chargeable event”

(1)In this Chapter “chargeable event” means an event that—

(a)is a chargeable event for the purposes of section 438 of ITEPA 2003,

(b)is within section 439(3)(a) of ITEPA 2003, and

(c)is within subsection (2).

(2)An event is within this subsection if it is the conversion of convertible securities into shares in relation to which—

(a)if the original relief is or would have been available under Chapter 2, all the conditions set out in section 1008 are met, or

(b)if the original relief is or would have been available under Chapter 3, all the conditions set out in section 1016 are met (ignoring paragraph (f) of condition 3).

(3)Repealed

(4)Repealed

(5)Repealed