Income Tax Act 2007

987 Meaning of “quoted Eurobond” U.K.

[F1 (1)] In this Part “quoted Eurobond” means a security, including a share (in particular any permanent interest bearing share as defined in section 117 of TCGA 1992), that—

( a) is issued by a company,

(b) is listed on a recognised stock exchange [F2 or admitted to trading on a multilateral trading facility operated by [F3 a regulated] recognised stock exchange], and

(c) carries a right to interest.

[F4 (2) For the purposes of this section—

(a) “regulated recognised stock exchange” means a recognised stock exchange that is regulated in the United Kingdom, the European Economic Area or Gibraltar, and

(b) “multilateral trading facility” means—

(i) a UK multilateral trading facility within the meaning given by Article 2.1(14A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments,

(ii) an EU multilateral trading facility within the meaning given by Article 2.1(14B) of that Regulation, and

(iii) [F5 a Gibraltar multilateral trading facility within the meaning given by Article 26(11)(b)(ii) of that Regulation.]

F6 ...]

Textual Amendments

F1 S. 987 renumbered as s. 987(1) (with effect in accordance with s. 34(3) of the amending Act) by Finance Act 2018 (c. 3), s. 34(1)(a)

F2 Words in s. 987(1)(b) inserted (with effect in accordance with s. 34(3) of the amending Act) by Finance Act 2018 (c. 3), s. 34(1)(b)

F3 Words in s. 987(1)(b) substituted (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 15(11)(a) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)

F4 S. 987(2) substituted (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 15(11)(b) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)

F5 S. 987(2)(b)(iii) substituted (31.12.2020) by The Taxes (Amendments) (EU Exit) (No. 2) Regulations 2019 (S.I. 2019/818), regs. 1(3), 6(4)(a); 2020 c. 1, Sch. 5 para. 1(1)

F6 Words in s. 987(2)(b) omitted (31.12.2020) by virtue of The Taxes (Amendments) (EU Exit) (No. 2) Regulations 2019 (S.I. 2019/818), regs. 1(3), 6(4)(b); 2020 c. 1, Sch. 5 para. 1(1)