[42A Certain arrangements not within section 42]
Finance Act 1930 (1930 c 28) | Legislation

[42A  Certain arrangements not within section 42]

[(1)     Arrangements entered into by a joint venture company which, apart from this section, would be arrangements of the kind mentioned in section 42(2) are not to be treated as such arrangements if and so long as—

(a)     the arrangements fall within subsection (2), and

(b)     none of the contingencies mentioned in subsection (3) to which the arrangements relate has occurred.

(2)     Arrangements fall within this subsection if they are—

(a)     an agreement which provides for the transfer of shares or securities in the joint venture company to one or more members of that company on, or as a result of, one or more contingencies mentioned in subsection (3)

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