Commentary on Sections The Income Tax (Offices and Employments) Act 1944 (7&8 Geo. 6. (1943-44) c.12) Machinery of PAYE Section 702: Meaning of “readily convertible asset”
2847.This section defines “readily convertible asset” in Chapter 4. It derives from parts of sections 203F and 203K of ICTA.
2848.Section 203F(6) defines “money” to include the European currency unit (ECU). That is no longer needed. See Note 59 in Annex 2.