132 Equation of converted securities and new holding
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

Conversion of securities

132  Equation of converted securities and new holding

(1)     Sections 127 to 131 shall apply with any necessary adaptations in relation to the conversion of securities as they apply in relation to a reorganisation (that is to say, a reorganisation or reduction of a company's share capital).

(2)     This section has effect subject to sections 133 and 134.

(3)     For the purposes of this section and section 133—

(a)     “conversion of securities” includes [any of the following, whether effected by a transaction or occurring in consequence of the operation of the terms of any security or of any debenture which is not a security, that

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