Part 12Other relief for employee share acquisitions
Chapter 1Introduction
Interpretation
1005Other definitions
In this Part—
“convertible securities” has the same meaning as in Chapter 3 of Part 7 of ITEPA 2003 (see section 436 of that Act),
“convertible shares” means shares that are—
- a
convertible securities, or
- b
an interest in convertible securities,
- a
“the employee” has the meaning given by section 1007(1)(a) or 1015(1)(a) (as the case may be),
“the employing company” has the meaning given by section 1007(1) or 1015(1) (as the case may be),
“listed company” means a company—
- a
whose shares are listed on a recognised stock exchange, and
- b
which is neither a close company nor a company that would be a close company if it were UK resident,
- a
“market value” has the same meaning as in TCGA 1992 (see sections 272 and 273 of that Act),
“option” includes any right to acquire shares,
“ordinary shares” means shares forming part of a company's ordinary share capital,
“the qualifying business” has the meaning given by section 1007(1)(b) or 1015(1)(b) (as the case may be),
“the recipient” has the meaning given by section 1007(1) or 1015(1) (as the case may be),
“the relevant employment” has the meaning given by section 1007(1)(b) or 1015(1)(b) (as the case may be), and
“restricted shares” means shares that are—
- a
restricted securities, or
- b
a restricted interest in securities,
for the purposes of Chapter 2 of Part 7 of ITEPA 2003 (see sections 423 and 424 of that Act).
- a