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Section 169VO The appropriate numberF1

(1)

The “appropriate number” for the purposes of section 169VN(5) is the number found by multiplying the number of shares that are in the new holding concerned immediately after the reorganisation by the fraction—

A B

where—

A is the number of the original shares that were—

  1. (a)

    subscribed for by the qualifying person,

  2. (b)

    issued on the relevant issue date, and

  3. (c)

    continuously held by that person for the period concerned, and

B is the total number of the original shares.

(2)

In this section—

  • “the new holding concerned” has the meaning given by section 169VN(3);

  • “the original shares” has the meaning given by section 169VN(6);

  • “the relevant issue date” has the meaning given by section 169VN(4);

  • “the period concerned” has the meaning given by section 169VN(4).

Annotations

Textual amendments

F1

Pt. 5 Ch. 5 inserted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 14 para. 2

Notes on Part V

Textual amendments

F1

Words in Pt. 5 heading inserted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 14 para. 1(1)

F2

Words in Act substituted (with effect for the tax year 2020-21 and subsequent tax years) by Finance Act 2020 (c. 14), Sch. 3 paras. 7(2)(a), 8 (with Sch. 3 para. 7(3))