# Corporation Tax Act 2009, Section 1008: Conditions relating to shares acquired


(1) Each of the following conditions must be met in relation to the shares acquired.
Condition 1
The shares are ordinary shares that are fully paid-up and not redeemable.
Condition 2
The shares are—
(a) shares of a class listed on a recognised stock exchange,
(b) shares in a company that is not under the control of another company, or
(c) shares in a company that is under the control of a listed company.
Condition 3
The shares are shares in—
(a) the employing company,
(b) a company that, when the shares are acquired, is a parent company of the employing company,
(c) a company that, when the shares are acquired, is a member of a consortium that owns the employing company,
(d) a company that, when the shares are acquired, is a member of a consortium that owns a parent company of the employing company, or
(e) a company within subsection (2).
(2) A company (“company A”) is within this subsection if when the shares are acquired—
(a) the employing company or a parent company of the employing company is a member of a consortium that owns another company (“company B”), and
(b) company A is—
(i) a member of that consortium or a parent company of a member of that consortium, and
(ii) a member of the same commercial association of companies as company B.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/1008 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-1008
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.