Commentary on Sections Overview Overview Section 216: When value is received
689.This section sets out the time at which, and circumstances in which, the investor is treated as receiving value from the issuing company. It is based on sections 300(1D) to (3), (5) and (6) and 301(3), (4) and (5) of ICTA.
690.Subsection (3) refers, for clarity, to “the issuing company” where the source legislation refers to “a company”.