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Version Superseded: 31/12/2020
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(1)The investments to which this section applies are investments in securities—
(a)issued or guaranteed by the government of a member State of the European Union,
(b)issued or guaranteed by the government or a governmental body of any territory or part of a territory,
(c)issued by an international entity listed in the Annex to Council Directive 2003/48/EC (directive on taxation of interest payments),
(d)issued by an entity meeting the four criteria set out at the end of that Annex,
(e)issued by a building society,
(f)issued by a credit institution which operates on mutual principles and which is authorised by an appropriate governmental body in the territory in which the securities are issued,
(g)issued by an open-ended investment company,
(h)issued by a company and listed on a recognised stock exchange, or
(i)issued by a company but not listed on a recognised stock exchange.
(2)Subsection (1) is subject to section 560.
(3)In this section and in section 560—
“debentures” includes—
debenture stock and bonds (whether constituting a charge on assets or not), and
loan stock or notes,
“open-ended investment company” is to be read in accordance with [F1sections 613 and 615 of CTA 2010],
“securities” includes shares and debentures, and
“
” includes stocks.Textual Amendments
F1Words in s. 559(3) substituted (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. 536 (with Sch. 2)
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