Interpretation of paragraphs 3 to 7
8(1)In paragraphs 3 to 7 above—
“quoted securities” means assets to which paragraph 1 above applies,
“fixed interest security” means any security as defined by section 132,
“preference share” means any share the holder whereof has a right to a dividend at a fixed rate, but has no other right to share in the profits of the company.
(2)If and so far as the question whether at any particular time a share was a preference share depends on the rate of dividends payable on or before 5th April 1973, the reference in the definition of “preference share” in sub-paragraph (1) above to a dividend at a fixed rate includes a dividend at a rate fluctuating in accordance with the standard rate of income tax.