Part 12Accrued income profits
Chapter 2Accrued income profits and losses
Interpretation
672Meaning of “interest payment day”
(1)
In this Chapter “interest payment day”, in relation to securities of any kind, means a day on which interest on those securities is payable.
(2)
If a particular payment of interest may be made on one of a number of days, the first of them is the interest payment day.