
Print Options
PrintThe Whole
Act
PrintThe Whole
Part
PrintThe Whole
Cross Heading
PrintThis
Section
only
Changes over time for: Section 161


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 06/04/2006.
Changes to legislation:
Finance Act 2003, Section 161 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
161Earn-out rights to be treated as securities unless contrary electionU.K.
(1)Section 138A of the Taxation of Chargeable Gains Act 1992 (c. 12) (use of earn-out rights for exchange of securities) is amended as follows.
(2)In subsection (2) (seller’s right to elect for earn-out right to be treated as security of new company)—
(a)at the end of paragraph (a) insert “ and ”; and
(b)omit paragraph (c) (the seller’s right of election) and the word “and” immediately preceding it.
(3)After subsection (2) insert—
“(2A)Subsection (2) above does not have effect if the seller elects under this section for the earn-out right not to be treated as a security of the new company.”.
(4)In subsection (4) (election for corresponding treatment where old right extinguished in consideration of new right)—
(a)at the end of paragraph (c) insert “ and ”;
(b)omit paragraph (e) (right of election of person on whom the new right is conferred) and the word “and” immediately preceding it; and
(c)in the closing words, for “that person” substitute “ the person on whom the new right is conferred ”.
(5)After subsection (4) insert—
“(4A)Subsection (4) above does not have effect if the person on whom the new right is conferred elects under this section for it not to be treated as a security of the new company.”.
(6)The amendments made by this section have effect in relation to rights conferred on or after 10th April 2003.
Yn ôl i’r brig