Corporation Tax Act 2010 section 1137

"Recognised stock exchange"

Section 1137 defines what constitutes a "recognised stock exchange" and what it means for securities to be "listed" on such an exchange for the purposes of the Corporation Tax Acts.

• A recognised stock exchange is either a UK recognised investment exchange market or an overseas market that has been formally designated by HMRC under an order made for the purposes of the corresponding income tax provision in section 1005 of ITA 2007.
• Securities are treated as "listed" on a recognised stock exchange only if they are both admitted to trading on that exchange and included in the official UK list or officially listed in a qualifying country outside the United Kingdom under rules corresponding to those generally applicable in EEA states.
• A qualifying country outside the United Kingdom is any foreign country in which there is a recognised stock exchange.
• The term "securities" includes shares and stock, and references to the official UK list mean the official list maintained under Part 6 of the Financial Services and Markets Act 2000.