Corporation Tax Act 2010 section 751

Interpretation of Part

Section 751 defines the key terms used throughout this Part of the Act, which deals with transactions in securities.

• "Company" is broadly defined to include any body corporate, and "securities" covers not only shares and stock but also a member's interest in a company that is not limited by shares.
• "Dividends" is given a wide meaning that extends to other distributions and interest, but excludes certain technical distributions such as redeemable share capital or bonus securities issued in respect of existing shares.
• "Transaction in securities" encompasses any description of activity relating to securities, including buying, selling, exchanging, issuing, subscribing for, or altering the rights attached to securities.
• "Trading stock" takes its meaning from section 163 of the Corporation Tax Act 2009.