CG50235 - Definitions: stock: general

TCGA92/S288 provides `shares' includes stock. In this context stock does not mean loan stock or any form of loan capital. Stock is another form of share capital. A company cannot issue stock units but it can convert shares into stock. The stock units then represent a nominal amount of the share capital. For example, if £1 ordinary shares are converted to stock they will become £1 stock units.