Paragraph 11
(1)
For the purposes of Part 1 of this Schedule, an amount is an “equivalent amount”, in relation to an amount denominated in sterling, if it is an amount of equal value denominated wholly or partly in another currency or unit of account.
(2)
The equivalent is to be calculated at the latest practicable date before (but in any event not more than 3 working days before) the date on which the offer is first made.
(3)
In this paragraph, “working day” means a day other than—
(a)
Saturday or Sunday;
(b)
Christmas Day or Good Friday;
(c)
any other day which is a bank holiday in England and Wales under the Banking and Financial Dealings Act 1971f1.
Annotations
Footnotes
- f1