CITM9020 - Definitions: Meaning of 'issue of securities or shares'

FA02/SCH16/PARA46; ITA/s378

For the purposes of the CITR scheme

• an ‘issue of securities or shares’ means all those securities with the same terms or rights, or shares of the same class, as are issued on the same day, and
• an ‘issue of securities or shares in a body to a person’ means all the securities or shares issued to that person in one capacity (so shares or securities issued to a company in its own right are distinguished from those which are issued to it as a trustee)

Shares are not regarded as being in the same class unless they would be treated as such if they were dealt with on the Stock Exchange (FA02/SCH16/PARA51(2) & ITA/s382).