Section 257AC Meaning of “period A” and “period B”F1

(1)

This section applies for the purposes of this Part in relation to any shares issued by a company.

(2)

“Period A” means the period—

(a)

beginning with the incorporation of the company, and

(b)

ending immediately before the termination date relating to the shares.

(3)

“Period B” means the period—

(a)

beginning with the issue of the shares, and

(b)

ending immediately before the termination date relating to the shares.

(4)

In this section “the termination date”, in relation to the shares, means the third anniversary of the date on which the shares are issued.

Annotations

F1: Pt. 5A inserted (17.7.2012) (with effect in accordance with Sch. 6 para. 24(1) of the amending Act) by Finance Act 2012 (c. 14), Sch. 6 para. 1

C1: Pt. 5A applied by Taxation of Chargeable Gains Act 1992 (c. 12), Sch. 5BB para. 8(4) (as inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 6 para. 5)