ihta84/s168.- Unquoted shares and securities.

[1975 Sch.10 para.13.]

168. - (1) In determining the price which unquoted shares or [unquoted ¹ ] securities might reasonably be expected to fetch if sold in the open market it shall be assumed that in that market there is available to any prospective purchaser of the shares or securities all the information which a prudent prospective purchaser might reasonably require if he were proposing to purchase them from a willing vendor by private treaty and at arm's length.

(2) In this section "unquoted shares or securities" means shares or securities which are not quoted on a recognised stock exchange ² .

1 1987 Sch.8, para.12(1), with effect from 17 March 1987.

2 Repealed by 1987 s.58(2) and Sch.8, para.12(2), with effect from 17 March 1987.