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YC 6: Disregarding certain securities
or “ Ignoring specific types of company securities and options when applying certain tax rules ”
You could also call this:

“When special rules apply to change how continuity provisions work”

You need to know about some special rules called sections YC 8 to YC 19B. These rules change how sections YC 2 to YC 6 work when you’re looking at something called the continuity provisions. The continuity provisions are part of the tax law, and these special rules help make sure they work properly.

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Next up: YC 8: Death of share or option holder

or “What happens to shares or options when the owner dies”
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Part Y Definitions and related matters
Measurement of company ownership

YC 7When sections YC 8 to YC 19B apply

  1. Sections YC 8 to YC 19B apply to modify sections YC 2 to YC 6 when the continuity provisions are applied.

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Notes
  • Section YC 7 heading: amended (with effect on 1 January 2011), on , by section 155 of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).
  • Section YC 7: amended (with effect on 1 January 2011), on , by section 155 of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).