Part 7Employment income: income and exemptions relating to securities

F1Chapter 4AShares in research institution spin-out companies

Supplementary

460Definitions

(1)

In this Chapter—

“interest”, in relation to shares, and

“shares”,

have 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

“the employer”,

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

(4)

In this Chapter—

“restricted interest in securities”, and

“restricted securities”,

have the meaning indicated in sections 423 and 424.