Part 4

Savings and investment income
Chapter 8

Profits from deeply discounted securities

Special rules for corporate strips

Meaning of “interest-bearing corporate security” in Chapter 8
452B
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).
Ss. 452A-452G and preceding cross-heading inserted (retrospectively) by Finance (No. 2) Act 2005 (c. 22), s. 39, Sch. 7 para. 25(8)(10)
Ss. 452A-452G and preceding cross-heading inserted (retrospectively) by Finance (No. 2) Act 2005 (c. 22), s. 39, Sch. 7 para. 25(8)(10)
Pt. 4 Ch. 8 applied (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), ss. 406(4), 1329(1) (with Sch. 2 Pts. 1, 2)