{
  "url": "https://openlegislation.uk/finance-act-2000/schedule-8/paragraph-62",
  "json_url": "https://openlegislation.uk/finance-act-2000/schedule-8/paragraph-62.json",
  "legislation": "ukpga/2000/17",
  "legislation_title": "Finance Act 2000",
  "legislation_url": "https://openlegislation.uk/finance-act-2000",
  "path": "schedule/8/paragraph/62",
  "kind": "paragraph",
  "number": "62",
  "heading": null,
  "text": "(1) Eligible shares must be—\n(a) fully paid up, and\n(b) not redeemable.\n(2) Shares are not regarded as fully paid up for the purposes of sub-paragraph (1)(a) if there is any undertaking to pay cash to the company at a future date.\n(3) For the purposes of sub-paragraph (1)(b) “redeemable” shares include shares that may become redeemable at a future date.\n(4) Sub-paragraph (1)(b) does not apply in relation to shares in a co-operative.\n(5) In sub-paragraph (4) “co-operative” means a registered industrial and provident society which is a co-operative society.\nFor this purpose—\n“registered industrial and provident society” means a society registered or deemed to be registered under the Industrial and Provident Societies Act 1965 or the Industrial and Provident Societies Act (Northern Ireland) 1969; and\n“co-operative society” has the same meaning as in section 1 of the 1965 Act or, as the case may be, the 1969 Act.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "M",
      "label": "M1",
      "text": "1965 c. 22."
    },
    {
      "type": "M",
      "label": "M2",
      "text": "1969 c. 24 (N.I.)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/17/schedule/8/paragraph/62",
    "retrieved_at": "2026-10-29T09:21:00.128981+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}