# Income Tax Act 2007, Paragraph 45

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

(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.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/2007/3/schedule/2/paragraph/45 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/schedule-2/paragraph-45
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.