non-qualifying corporate bonds
Debt securities (loan notes) that are not qualifying corporate bonds (QCBs). A QCB becomes a non-QCB if it includes a foreign currency redemption provision (where the loan note is redeemable in a non-sterling amount) or if it provides the loan note holder with a right to subscribe for additional securities.
An individual selling shareholder may obtain tax deferral and taper relief advantages by accepting non-QCBs as consideration for the sale of his shares.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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