Part 7Employment income: income and exemptions relating to securities

F1Chapter 3ASecurities with artificially depressed market value

Supplementary

446JDefinitions

(1)

In this Chapter—

“interest”, in relation to securities, and

“securities”,

have the meaning indicated in section 420.

(2)

In this Chapter “market value” has the meaning indicated in section 421(1).

(3)

For the purposes of this Chapter sections 421(2) and 421A apply for determining the amount of the consideration given for anything and section 421I applies for determining the amount of the consideration given for the acquisition of employment-related securities.

(4)

In this Chapter—

“the acquisition”,

“the employee”, and

“employment-related securities”,

have the meaning indicated in section 421B(8).

(5)

In this Chapter—

“restricted interest in securities”, and

“restricted securities”,

have the same meaning as in Chapter 2 of this Part (see sections 423 and 424).

(6)

In this Chapter “restriction” has the same meaning as in Chapter 2 of this Part (see section 432(8)).

(7)

In this Chapter “convertible securities” has the same meaning as in Chapter 3 of this Part (see section 436).