Part 7

Employment income: income and exemptions relating to securities
Chapter 4A

Shares in research institution spin-out companies

Supplementary

Definitions
460
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.
Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)
Pt. 7 Ch. 4A inserted (with effect in accordance with s. 20(5)-(7) of the amending Act) by Finance Act 2005 (c. 7), s. 20(1)
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)