C1Part 7F1Employment income: income and exemptions relating to securities

Annotations:
Amendments (Textual)
F1

Pt. 7 heading substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)

Modifications etc. (not altering text)
C1

Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)

F2Chapter 3DSecurities disposed of for more than market value

Annotations:
Amendments (Textual)
F2

Pt. 7 Ch. 3D inserted (with effect in accordance with Sch. 22 para. 8(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 8(1)

446XApplication of this Chapter

This Chapter applies if—

a

employment-related securities are disposed of by an associated person so that no associated person is any longer beneficially entitled to them, and

b

the disposal is for a consideration which exceeds the market value of the employment-related securities at the time of the disposal.