| Commentary

44 Securities

| Commentary

44 Securities

‘Securities’ are widely defined for Part 7 (Sections 417 to 554) of the Income Tax (Earnings and Pensions) Act 2003. They include1:

  1. 44.1

        shares (including stock);

  2. 44.2

        rights under contracts of insurance other than excluded contracts of insurance2;

  3. 44.3

        debentures, debenture stock, loan stock, bonds, certificates of deposit and other instruments creating or acknowledging indebtedness (other than contracts of insurance);

  4. 44.4

        warrants and other instruments entitling their holders to subscribe for securities (whether or not in existence or identifiable);

  5. 44.5

        certificates and other instruments conferring rights in respect of securities held by persons other than the persons on

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