Part 7Employment income: income and exemptions relating to securities

F1Chapter 3BSecurities with artificially enhanced market value

Supplementary

446PDefinitions

(1)

In this Chapter “interest”, in relation to securities, has the meaning indicated in section 420.

(2)

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

(3)

In this Chapter—

“the acquisition”,

“the employee”, and

“employment-related securities”,

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

(4)

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).

(5)

In this Chapter “chargeable event” means an event which is a chargeable event for the purposes of section 426.

(6)

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

(7)

In this Chapter—

“non-commercial increase”, and

“non-commercial reduction”,

have the meaning indicated in section 446K(4).

(8)

In this Chapter—

“relevant period”, and

“valuation date”,

have the meaning indicated in section 446O.