Part 7

Employment income: income and exemptions relating to securities
Chapter 3B

Securities with artificially enhanced market value

Supplementary

Definitions
446P
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.
Pt. 7 Ch. 3B inserted (16.4.2003 with effect in accordance with Sch. 22 para. 6(2)-(4) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 6(1)
Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)
Pt. 7 heading substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)