# Finance Act 1993, Paragraph 5

Extent: E+W+S+N.I.

(1) In this Part of this Schedule—
“control” shall be construed in accordance with sections 450 and 451 of the Corporation Tax Act 2010;
“ordinary share capital” has the meaning given by section 989 of ITA 2007;
“successor company” means a corporate member (within the meaning of Chapter 5 of Part 4 of the Finance Act 1994) which is a successor member;
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“the syndicate capacity disposal” has the meaning given by paragraph 1(3) above;
“underwriting business”, in relation to a successor company, has the same meaning as in Chapter 5 of Part 4 of the Finance Act 1994.
(2) For the purposes of this Part of this Schedule, shares comprised in any letter of allotment or similar instrument shall be treated as issued unless—
(a) the right to the shares conferred by it remains provisional until accepted, and
(b) there has been no acceptance.
(3) Paragraphs 3 and 4 above (and paragraph 1 above so far as relating to those paragraphs) are to be construed as one with the Gains Tax Act.

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Source: https://www.legislation.gov.uk/ukpga/1993/34/schedule/20A/paragraph/5 (the official version)
Page: https://openlegislation.uk/finance-act-1993/schedule-20A/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.