(a) In this section -
"close company" has the same meaning as it has, by virtue of sections 430 and 431, for the purposes of the Corporation Tax Acts;
"market value" shall be construed in accordance with section 548;
"new consideration" has the same meaning as in section 135;
"shares" includes loan stock, debentures and any interest or rights in or over, or any option in relation to, shares, loan stock or debentures, and references to "shareholder" shall be construed accordingly.
(i) For the purposes of this section, there shall be a disposal of shares by a shareholder where the shareholder disposes of shares or is treated under the Capital Gains Tax Acts as disposing of shares, and references to a disposal of shares shall include references to a part disposal of shares within the meaning of those Acts.
(ii) Where under any arrangement between a close company (in this subparagraph referred to as "the first-mentioned company") and its, or some of its, shareholders (being any arr
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