# Proceeds of Crime Act 2002, Paragraph 32: Shares acquired at an undervalue


Section 162(5) of the Taxes Act 1988 (employee shareholdings) does not make the transferor chargeable to income tax in respect of a Part 5 transfer of shares.

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Source: https://www.legislation.gov.uk/ukpga/2002/29/schedule/10/paragraph/32 (the official version)
Page: https://openlegislation.uk/proceeds-of-crime-act-2002/schedule-10/paragraph-32
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.