40(1)In relation to shares issued before 6 April 2007, section 137 applies with the following modifications—U.K.
(a)the omission of subsection (2),
(b)in subsection (5), the omission of paragraph (d)(ii) and the “or” immediately before it, and
(c)the omission of subsection (6).
(2)In relation to shares issued before 6 April 2000, section 137 applies with the substitution for the definition of “research and development” in subsection (7) of—
““research and development” means any activity which is intended to result in a patentable invention (within the meaning of the Patents Act 1977) or in a computer program.”
(3)Section 137 does not apply in relation to shares issued before 6 April 1998.
F1(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 2 para. 40(4) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)