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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 22 November 2021 - onwards
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29. Persons chargeable.

(1) In this section -

"designated area" has the same meaning as it has in the Maritime Jurisdiction Act 2021;

"exploration or exploitation rights" has the same meaning as in section 13;

"shares" includes stock and any security;

"security" includes securities not creating or evidencing a charge on assets, and interest paid by a company on money advanced without the issue of a security for the advance, or other consideration given by a company for the use of money so advanced, shall be treated as if paid or given in respect of a security issued for the advance by the company.

(1A)

(a) In this subsection -

'arrangement' includes any agreement, understanding, scheme, transaction or series of transactions;

'relevant assets' means assets mentioned in -

(i) subsection (3)(a) or (b), or

(ii) subsection (6).

(b) A disposal of relevant assets, for the purpose of this section, includes the disposal of shares deriving their value or the greater part of their value directly or indirectly from those

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