# Corporation Tax Act 2009, Section 931U: Meaning of “ordinary share” and “redeemable”


(1) In this Part “ordinary share” means a share that does not carry any present or future preferential right to dividends or to a company's assets on its winding up.
(2) A share is regarded as “redeemable” for the purposes of this Part only if it is redeemable as a result of its terms of issue (or any collateral arrangements)—
(a) requiring redemption,
(b) entitling the holder to require redemption, or
(c) entitling the issuing company to redeem.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/931U (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-931U
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.