C1Part IV Shares, securities, options etc.
Chapter I General
Gilt-edged securities and qualifying corporate bonds
116BF1Shares beginning or ceasing to be shares to which section F6521B of CTA 2009 applies
C21
If at any time section F3521B of CTA 2009 (application of Part 5 of that Act to certain shares as rights under a creditor relationship) begins or ceases to apply in the case of a share held by the investing company it is treated for the purposes of this Act—
a
as having disposed of the share immediately before that time for consideration of an amount equal to F2the notional carrying value of the share at that time, and
b
as having immediately reacquired it for consideration of the same amount.
2
In this section—
F7“notional carrying value” has the same meaning as in subsection (2) of section 521F of CTA 2009 (see subsection (3) of that section),
“investing company” has the same meaning as it has for the purposes of Chapter F46A of Part 6 of that Act (shares F5accounted for as liabilities) (see section 521A(3) of that Act).
Pt. IV: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)