# Income Tax Act 2007, Paragraph 41

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

(1) In relation to shares issued before 17 March 2004, section 138 applies with the following modifications—
(a) in subsection (1), the omission of “merely” and the substitution for “the company or any of its subsidiaries” of “its”,
(b) in subsection (2)(b), the omission of “concerned”,
(c) in subsection (3)(a), the omission of “or any of its subsidiaries”,
(d) in subsection (3)(b), the omission of “or any of its subsidiaries”, and
(e) in subsection (4), the omission of “is”, in the second place where it occurs.
(2) In relation to an administration order the petition for which was presented before 15 September 2003, section 138(2) applies with the substitution for paragraph (a) of—
“(a) the making of the order in question, and”.
(3) In relation to shares issued before 21 March 2000, section 138 applies with the omission of subsections (1) and (2).
(4) In the application of sub-paragraph (3) on or after 21 March 2000, shares—
(a) that were issued on or after 6 April 1998 but before 21 March 2000, and
(b) to which EIS relief or relief under Schedule 5B to TCGA 1992 was attributable immediately before 21 March 2000,
are treated as having been issued on or after 21 March 2000.
(5) Section 138 does not apply in relation to shares issued before 6 April 1998.
(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/2007/3/schedule/2/paragraph/41 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/schedule-2/paragraph-41
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.