105Disposal on or before day of acquisition of shares and other unidentified assets
(1)The following provisions shall apply where securities of the same class are acquired or disposed of by the same person on the same day and in the same capacity—
(a)all the securities so acquired shall be treated as acquired by a single transaction and all the securities so disposed of shall be treated as disposed of by a single transaction, and
(b)all the securities so acquired shall, so far as their quantity does not exceed that of the securities so disposed of, be identified with those securities.
(2)Subject to section 106, where the quantity of the securities so disposed of exceeds the quantity of the securities so acquired, then so far as the excess is not required by any provision of section 104 or 107 or Schedule 2 to be identified with securities acquired before the day of the disposal, it shall be treated as diminishing a quantity subsequently acquired, and a quantity so acquired at an earlier date, rather than one so acquired at a later date.