Commentary on Sections Structure of Chapters Overview Section 451: Market value of strips etc. quoted in foreign stock exchange lists
1813.This section provides the rules for ascertaining the market value of overseas strips or securities quoted on a foreign stock exchange. It is based on paragraph 14E of Schedule 13 to FA 1996.
1814.Subsections (4) and (5) make provision for cases where the mechanics of overseas stock exchanges might differ from those in the United Kingdom, in particular where separate buy and sell prices are not given.
1815.Subsection (6) acts as a tie-breaker where the strip or security is listed on more than one foreign exchange.