The following definitions apply for ITEPA 2003, ss 417–484 (Pt 7, Chs 1–5), and, in some cases (identified below) for only some of these Chapters. Further definitions applying to (ITEPA 2003, ss 471–484 (Pt 7, Ch 5), securities options) can be found at E4.508H.
Definition of 'securities'
Whilst the informal terms 'shares' and 'share options' are used for convenience throughout this Division, reference to the following formal definitions should be made in any case of doubt. The following are 'securities' for the purposes of ITEPA 2003, ss 417–484 (Pt 7, Chs 1–5)1:
- Ìý
•ÌýÌýÌýÌý Shares (including stock) in any body corporate (wherever incorporated), or in any unincorporated body constituted under the law of a country or territory outside the UK. HMRC will not normally regard any United Kingdom partnership, limited partnership, or limited liability partnership as a 'body corporate'
- Ìý
•ÌýÌýÌýÌý Rights under contracts of insurance (unless the contract is specifically excluded, see below)2
- Ìý
•ÌýÌýÌýÌý Debentures, debenture stock, loan stock, bonds, certificates of deposit and other instruments creating or acknowledging indebtedness (other
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