Section 987 — Income Tax Act 2007: Meaning of “quoted Eurobond”

Meaning of “quoted Eurobond” 987 1 In this Part “ quoted Eurobond ” means a security, including a share (in particular any permanent interest bearing share as defined in section 117 of TCGA 1992), that—

a is issued by a company, b is listed on a recognised stock exchange or admitted to trading on a multilateral trading facility operated by a regulated recognised stock exchange , and c carries a right to interest.

2 For the purposes of this section—

a “regulated recognised stock exchange” means a recognised stock exchange that is regulated in the United Kingdom, the European Economic Area or Gibraltar, and b “multilateral trading facility” means—

i a UK multilateral trading facility within the meaning given by Article 2.1(14A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments, ii an EU multilateral trading facility within the meaning given by Article 2.1(14B) of that Regulation, and iii a Gibraltar multilateral trading facility within the meaning given by Article 26(11)(b)(ii) of that Regulation. ...