1694.This section gives an overview of the Part. It is new.
1695.The remaining sections of this Chapter explain some important terms which are used in the same sense throughout this Part.
1696.This section defines “UK shares” and “UK securities”. It is based on sections 737B and 737C of, and paragraph 1 of Schedule 23A to, ICTA.
1697.This Part uses the label “UK shares” for income tax purposes instead of the label “United Kingdom equities” given in paragraph 1 of Schedule 23A to ICTA, as the definition includes preference shares. The label “United Kingdom equities” is retained in Schedule 23A for corporation tax purposes.
1698.This section defines “overseas securities” and “overseas dividend”. It is based on sections 737B and 737C of, and paragraph 1 of Schedule 23A to, ICTA.
1699.This section defines “stock lending arrangement”. It is based on sections 231AA and 736B of ICTA and sections 263B and 263C of TCGA.
1700.This section defines “repo”. It is based on sections 231AA, 231AB, 730A, 730B, 737B and 737E of, and paragraph 1 of Schedule 23A to, ICTA.
1701.This section provides the meaning of the expression “buying back” securities. It is based on sections 730B, 737B and 737E of ICTA.
1702.This section explains when agreements are “related”. It is based on sections 730B, 737B and 737E of ICTA.