Paragraph 45

United Kingdom

(1)

In relation to shares issued before 6 April 2006, section 142 applies with the substitution in subsections (1) and (2)—

(a)

of “£15 million” for “£7 million”, and

(b)

of “£16 million” for “£8 million”.

(2)

For the purposes of sub-paragraph (1) shares issued on or after 6 April 2006 to a person who subscribed for them before 22 March 2006 are treated as having been issued before 6 April 2006.

(3)

Section 142 does not apply in relation to shares issued before 6 April 1998.

F1(4)

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Annotations

Textual amendments

F1: Sch. 2 para. 45(4) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)