Schedules

SCHEDULE 2Transitionals and savings etc

Part 23Company distributions

Meaning of “special securities”

103

1

Securities do not meet Condition A in section 1015 if they were issued—

a

before 6 April 1965 in respect of shares, or

b

before 6 April 1972 in respect of securities.

2

Securities do not fall within section 1015(3)(a)(ii) if they were issued before 6 April 1972.