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Corporation Tax Act 2010

Section 90: Interpretation of Chapter

315.This section explains the meaning of expressions used in this Chapter. It is based on sections 130 and 576L of ICTA.

316.Subsection (1) includes the definition of “corresponding bonus shares”. Subsection (2) amplifies that definition. See Change 12 in Annex 1.

317.The definition of “investment company” is set out in full in subsection (1) rather than by cross–referring to and modifying the definition in section 130 of ICTA. References to savings banks and banks for savings have been omitted. See Change 21in Annex 1.

318.Subsection (7) is new and clarifies that the date of disposal is the time when the disposal is made or treated as made for the purposes of corporation tax on chargeable gains. See Change 22in Annex 1.

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