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(1)In Part II of Schedule 13 to the [1984 c. 43.] Finance Act 1984 (qualifying corporate bonds: reorganisations etc.) the following paragraph shall be inserted after paragraph 11—
“12(1)This paragraph applies in a case where—
(a)the new asset mentioned in paragraph 10 above is a qualifying corporate bond in respect of which an allowable loss is treated as accruing under section 136A(2) of the principal Act, and
(b)the loss is treated as accruing at a time falling after the relevant transaction but before any actual disposal of the new asset subsequent to the relevant transaction.
(2)For the purposes of paragraph 10 above, a subsequent disposal of the new asset shall be treated as occurring at (and only at) the time the loss is treated as accruing.”
(2)This section applies whether the relevant transaction occurs before or on or after the day on which this Act is passed.
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