Part 4Savings and investment income
Chapter 8Profits from deeply discounted securities
F1Special rules for corporate strips
F2452BMeaning of “interest-bearing corporate security” in Chapter 8
(1)
In this Chapter “interest-bearing corporate security” means any interest-bearing security other than—
(a)
a security issued by the government of a territory, or
(b)
a share in a company.
(2)
In this section “interest-bearing security” includes any loan stock or similar security.
(3)
Section 452D(4)(a) gives an extended meaning to references to converting an interest-bearing corporate security into corporate strips (and related expressions).