Related Commentary  Related HMRC Manuals

89A(1)  Section 87 above shall not apply as regards an agreement to transfer securities other than units under a unit trust scheme to B or B’s nominee if–

(a)the agreement is part of an arrangement, entered into by B in the ordinary course of B’s business as an issuing house, under which B (as principal) is to offer the securities for sale to the public,

(b)the agreement is conditional upon the admission of the securities to the Official List of The Stock Exchange,

(c)the consideration under the agreement for each security is the same as the price at which B is to offer the security for sale, and

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.