59 Convertible loans and loan stock etc
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

59  Convertible loans and loan stock etc

(1)     No deduction is allowed under section 58 in respect of a loan or loan stock if—

(a)     it carries the right of conversion into, or to the acquisition of, shares or other securities, and

(b)     the right is exercisable before the end of the period of 3 years

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