Section 1032 — Corporation Tax Act 2009: Meaning of “chargeable event”

Meaning of “chargeable event” 1032 1 In this Chapter “ chargeable event ” means an event that—

a is a chargeable event for the purposes of section 438 of ITEPA 2003, b is within section 439(3)(a) of ITEPA 2003, and c is within subsection (2).

2 An event is within this subsection if it is the conversion of convertible securities into shares in relation to which—

a if the original relief is or would have been available under Chapter 2, all the conditions set out in section 1008 are met, or b if the original relief is or would have been available under Chapter 3, all the conditions set out in section 1016 are met (ignoring paragraph (f) of condition 3). 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .