Finance (No. 2) Act 1992

6The following shall be inserted after paragraph 22B—

22C No particular redemption date: special rule

22C(1)This paragraph applies to a security whose terms contain no particular date by which it is to be redeemed.

(2)In the case of such a security the following expressions, wherever they appear in this Schedule, shall be construed as if the words “before maturity" were omitted—

(a)the expression “redemption which may be made before maturity";

(b)the expression “redemption before maturity";

(c)the expression “redeemed before maturity".