Section 446P — Income Tax (Earnings and Pensions) Act 2003: Definitions

Definitions 446P 1 In this Chapter “ interest ”, in relation to securities, has the meaning indicated in section 420.

2 In this Chapter “ market value ” has the meaning indicated in section 421(1).

3 In this Chapter— “ the acquisition ”, “ the employee ”, and “ employment-related securities ”, have the meaning indicated in section 421B(8).

4 In this Chapter— “ restricted interest in securities ”, and “ restricted securities ”, have the same meaning as in Chapter 2 of this Part (see sections 423 and 424).

5 In this Chapter “ chargeable event ” means an event which is a chargeable event for the purposes of section 426.

6 In this Chapter “ restriction ” has the same meaning as in Chapter 2 of this Part (see section 432(8)).

7 In this Chapter— “ non-commercial increase ”, and “ non-commercial reduction ”, have the meaning indicated in section 446K(4).

8 In this Chapter— “ relevant period ”, and “ valuation date ”, have the meaning indicated in section 446O.