Section 446X Application of this ChapterF1
This Chapter applies if—
(a)
employment-related securities are disposed of by an associated person so that no associated person is any longer beneficially entitled to them, and
(b)
the disposal is for a consideration which exceeds the market value of the employment-related securities at the time of the disposal.
Annotations
Textual amendments
- F1
Pt. 7 Ch. 3D inserted (with effect in accordance with Sch. 22 para. 8(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 8(1)
Notes on Part 7
Textual amendments
- F1
Pt. 7 heading substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)
Modifications
- C1
Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)