CFM17365 – MODs: overseas securities - definition

Definition of ‘overseas securities’

‘Overseas securities' are shares, stock, or other securities issued by a government or public or local authority of a territory outside the UK or by any other body of persons not resident in the UK. This includes both overseas shares and overseas debt securities.

The terms UK manufacturer and UK recipient refer to a manufacturer or recipient who is resident in the UK or who pays or receives the manufactured overseas dividend in the course of carrying on a trade in the UK through a permanent establishment.