Part 7Employment income: income and exemptions relating to securities

F1Chapter 3Convertible securities

Supplementary

444Definitions

(1)

In this Chapter—

“interest”, in relation to securities,

“securities”, and

“shares”,

have the meaning indicated in section 420.

(2)

In this Chapter “market value” has the meaning indicated in section 421(1).

(3)

For the purposes of this Chapter sections 421(2) and 421A apply for determining the amount of the consideration given for anything and section 421I applies for determining the amount of the consideration given for the acquisition of employment-related securities.

(4)

In this Chapter—

“the acquisition”,

“the employee” (except in section 443), and

“employment-related securities”,

have the meaning indicated in section 421B(8).

(5)

In this Chapter “associated person” has the meaning indicated in section 421C.

(6)

In this Chapter—

“associated company”, and

“employee-controlled”,

have the meaning indicated in section 421H.

(7)

In this Chapter “convertible securities” has the meaning indicated in section 436.