Section 450 — Income Tax (Earnings and Pensions) Act 2003: Definitions

Definitions 450 1 In this Chapter— “ interest ”, in relation to shares, and “ shares ”, have the meaning indicated in section 420(8).

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

3 In this Chapter— “ the employee ” (except in section 449), and “ employment-related securities ”, have the meaning indicated in section 421B(8).

4 In this Chapter “ associated person ” has the meaning indicated in section 421C.

5 In this Chapter— “ associated company ”, and “ employee-controlled ”, have the meaning indicated in section 421H.