# Income Tax (Earnings and Pensions) Act 2003, Section 436: “Convertible securities”

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

For the purposes of this Chapter securities are convertible securities if—
(a) they confer on the holder an entitlement (whether immediate or deferred and whether conditional or unconditional) to convert them into securities of a different description,
(b) a contract, agreement, arrangement or condition authorises or requires the grant of such an entitlement to the holder if certain circumstances arise, or do not arise, or
(c) a contract, agreement, arrangement or condition makes provision for the conversion of the securities (otherwise than by the holder) into securities of a different description.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/section/436 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-436
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.