SCHEDULES
F1SCHEDULE 10
Part I Introduction
Transfer etc.
10
1
This paragraph applies for the purposes of this Schedule.
2
“Transfer”, in relation to a security, means transfer by way of sale, exchange, gift or otherwise.
3
But (notwithstanding sub-paragraph (2) above) “transfer” does not include a transfer made on a conversion of a security into ordinary share capital in a company.
4
Where an agreement for the transfer of a security is made, it is transferred, and the person to whom it is agreed to be transferred becomes entitled to it, when the agreement is made and not on a later transfer made pursuant to the agreement; and “entitled”, “transfer” and cognate expressions shall be construed accordingly.
5
A person holds a security at a particular time if he is entitled to it at the time.
6
A person acquires a security when he becomes entitled to it.
7
If an agreement is conditional (whether on the exercise of an option or otherwise) for the purposes of sub-paragraph (4) above it is made when the condition is satisfied.
Sch. 10 repealed (29.4.1996 with effect in accordance with the provisions of Chapter II of Part IV of the amending Act) by 1996 c. 8, ss. 104, 205, Sch. 14 para. 58, Sch. 41 Pt. V(3) Note (with Sch. 15 para. 21)