Income and Corporation Taxes Act 1988

[F1 Convertible securities: special rules]U.K.

Textual Amendments

F11990 s.56and Sch.10 paras.26(3), 29(4)on and after 9June 1989.

21In a case where—

(a)a security is a qualifying convertible security, for the purposes of Schedule 10 to the Finance Act 1990, at the time of its issue, and

(b)apart from this paragraph it would be a deep discount security at that time,

the security shall be treated, at the time of its issue and at all subsequent times, as not being a deep discount security.