[F1410AConversion etc of bonus share capitalU.K.
This section has no associated Explanatory Notes
(1)This section applies if bonus share capital falling within section 410(1)(b) is converted into, or exchanged for, shares in the company of a different class.
(2)Section 410 does not apply to any shares in the company issued—
(a)in connection with the conversion or exchange, and
(b)in consideration of the cancellation, extinguishment or acquisition by the company of the bonus share capital.]
Textual Amendments
F1S. 410A inserted (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 459 (with Sch. 2)