xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
10(1)This paragraph applies for the purposes of this Schedule.
(2)“Transfer”, in relation to a security, means transfer by way of sale, exchange, gift or otherwise.
(3)But (notwithstanding sub-paragraph (2) above) “transfer” does not include a transfer made on a conversion of a security into ordinary share capital in a company.
(4)Where an agreement for the transfer of a security is made, it is transferred, and the person to whom it is agreed to be transferred becomes entitled to it, when the agreement is made and not on a later transfer made pursuant to the agreement; and “entitled”, “transfer” and cognate expressions shall be construed accordingly.
(5)A person holds a security at a particular time if he is entitled to it at the time.
(6)A person acquires a security when he becomes entitled to it.
(7)If an agreement is conditional (whether on the exercise of an option or otherwise) for the purposes of sub-paragraph (4) above it is made when the condition is satisfied.