http://www.legislation.gov.uk/ukpga/2005/5/section/153/enactedIncome Tax (Trading and Other Income) Act 2005IncomeKing's Printer of Acts of Parliament2021-08-04 Part 2Trading incomeChapter 11Trade profits: other specific tradesDealers in securities etc.Meaning of “gilt-edged security” and “strip” 153 1 In this Act “gilt-edged security” means a security which— a is a gilt-edged security for the purposes of TCGA 1992 (see Schedule 9 to that Act), or b will be such a security on the making of an order under paragraph 1 of Schedule 9 to TCGA 1992, if the making of the order is anticipated in the prospectus under which the security is issued. 2 For the purposes of sections 151 and 152 “strip”, in relation to a gilt-edged security, means a security issued under the National Loans Act 1968 (c. 13) which meets conditions A to C. 3 Condition A is that the security is issued for the purpose of representing the right to or of securing— a a payment corresponding to a payment of interest or principal remaining to be made under the gilt-edged security, or b two or more payments each corresponding to a payment to be so made. 4 Condition B is that the security is issued in conjunction with the issue of one or more other securities which, together with that security— a represent the right to, or b secure, payments corresponding to every payment remaining to be made under the gilt-edged security. 5 Condition C is that the security is not itself a security which— a represents the right to, or b secures, payments corresponding to a part of every payment remaining to be made under the gilt-edged security.