Statute
Section 931U — Corporation Tax Act 2009: Meaning of “ordinary share” and “redeemable”
Text of the provision Official document
Meaning of “ordinary share” and “redeemable” 931U 1 In this Part “ ordinary share ” means a share that does not carry any present or future preferential right to dividends or to a company's assets on its winding up.
2 A share is regarded as “ redeemable ” for the purposes of this Part only if it is redeemable as a result of its terms of issue (or any collateral arrangements)—
a requiring redemption, b entitling the holder to require redemption, or c entitling the issuing company to redeem.
Official source: legislation.gov.uk
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