Definitions: Meaning of “issue of securities or shares”
CTA2010/Part 7/Chapter 6/S265; ITA/s378
For the purposes of the CITR scheme
- an issue of securities or shares means all those securities with the same terms or rights, or shares of the same class, as are issued on the same day, and
- an issue of securities or shares in a body to a person means all the securities or shares issued to that person in one capacity (so shares or securities issued to a company in its own right are distinguished from those which are issued to it as a trustee)
Shares are not regarded as being in the same class unless they would be treated as such if they were dealt with on the Stock Exchange (CTA2010/S269 & ITA/s382).