Finance Act, 1984
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Chapter III Income Tax: Relief for Investment in Corporate Trades | ||
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Interpretation ( Chapter III ). |
11.— (1) In this Chapter— | |
“associate” has the same meaning in relation to a person as it has by virtue of section 103 (3) of the Corporation Tax Act, 1976 , in relation to a participator; | ||
“control”, except in section 14 (7) and section 26 (2) (b), shall be construed in accordance with subsections (2) to (6) of section 102 of the Corporation Tax Act, 1976 ; | ||
“debenture” has the meaning assigned to it by section 2 of the Companies Act, 1963 ; | ||
“director” shall be construed in accordance with section 103 (5) of the Corporation Tax Act, 1976 ; | ||
“market value” shall be construed in accordance with section 49 of the Capital Gains Tax Act, 1975 ; | ||
“ordinary shares” means shares forming part of a company's ordinary share capital; | ||
“the relevant period” has the meaning assigned to it by section 12 (7); | ||
“the relief” and “relief” mean relief under section 12 and references to the amount of the relief shall be construed in accordance with subsection (3) of that section; | ||
“qualifying trading operations” has the meaning assigned to it by section 16 (2); and | ||
“unquoted company” means a company none of whose shares, stocks or debentures are listed in the official list of a stock exchange or dealt in on an unlisted securities market. | ||
(2) Section 157 of the Corporation Tax Act, 1976 , applies for the purposes of the provisions of this Chapter other than section 14 . | ||
(3) References in this Chapter to a disposal of shares include references to a disposal of an interest or right in or over the shares and an individual shall be treated for the purposes of this Chapter as disposing of any shares which he is treated by virtue of paragraph 5 of Schedule 2 to the Capital Gains Tax Act, 1975 , as exchanging for other shares. | ||
(4) References in this Chapter to the reduction of any amount include references to its reduction to nil. |