{
  "url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-446Z",
  "json_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-446Z.json",
  "legislation": "ukpga/2003/1",
  "legislation_title": "Income Tax (Earnings and Pensions) Act 2003",
  "legislation_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003",
  "path": "section/446Z",
  "kind": "section",
  "number": "446Z",
  "heading": "Definitions",
  "text": "(1) In this Chapter “market value” has the meaning indicated in section 421(1).\n(2) For the purposes of this Chapter sections 421(2) and 421A apply for determining the amount of the consideration given for anything.\n(3) In this Chapter—\n“the employee”, and\n“employment-related securities”,\nhave the meaning indicated in section 421B(8).\n(4) In this Chapter “associated person” has the meaning indicated in section 421C.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/1/section/446Z",
    "retrieved_at": "2026-10-29T09:18:42.395488+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}