Section CE 6 — Income Tax Act 2007: Meaning of share: when share acquired

CE 6 Meaning of share: when share acquired Meaning (1) In sections CE 2 to CE 4 and CE 7 , share includes a convertible note. Use in sections CE 2 to CE 4 and CE 7 (2) For the purposes of sections CE 2 to CE 4 and CE 7 ,— (a) shares are treated as having been acquired on the date on which the right or option to buy them is exercised; and (b) if shares or rights are acquired or transferred under an agreement by a trustee for the benefit of an employee to whom section CE 2 applies, the employee is treated as having acquired or transferred the shares or rights. Defined in this Act: convertible note , employee , share , trustee Compare: 2004 No 35 s CE 6