Point in time view as at 07/04/2005.
There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Section 435.
(1)The rule in this section is that if securities in any of the issues made on separate occasions under the same prospectus are not deeply discounted securities, securities in any later issue under it are not deeply discounted securities, unless they are treated as such for one of the reasons specified in subsection (2).
(2)The reasons are—
(a)that the securities were issued to a person connected with the issuer and so fail to meet the condition specified in section 431(2)(b), and
(b)that such a person has acquired or become the holder of the securities and so section 431(5) applies to them.
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