329 Conversion of convertible shares and securities
Income Tax Act 2007 (2007 c 3) | Legislation

Conversion of shares etc and company reorganisations

329  Conversion of convertible shares and securities

(1)     This section applies if—

(a)     shares have been issued to a company (“the investing company”) by the exercise by it of any right of conversion attached to other shares or securities held by it (“the convertibles”),

(b)     the shares so issued are in the same company as the convertibles to which the right was attached,

(c)     the convertibles to which the right was attached were first issued

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