[F1931UMeaning of “ordinary share” and “redeemable”U.K.
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(1)In this Part “ordinary share” means a share that does not carry any present or future preferential right to dividends or to a company's assets on its winding up.
(2)A share is regarded as “redeemable” for the purposes of this Part only if it is redeemable as a result of its terms of issue (or any collateral arrangements)—
(a)requiring redemption,
(b)entitling the holder to require redemption, or
(c)entitling the issuing company to redeem.]
Textual Amendments
F1Pt. 9A inserted (with effect in accordance with Sch. 14 para. 31 of the amending Act) by Finance Act 2009 (c. 10), Sch. 14 para. 1 (with Sch. 14 para. 32)