9 Amendment of Part 9 of Schedule 26
1 Amend paragraph 45H (treatment of net gains and losses on terminal exercise of option) as follows.
2 In sub-paragraph (1)(b), for “exercised to any extent” substitute “to any extent exercised or otherwise disposed of”.
3 In sub-paragraph (2)(b) for paragraphs (i) and (ii) substitute—

“(i) as a result of the exercise of rights mentioned in sub-paragraph (1)(b); and
(ii) in circumstances where a disposal is deemed not to occur by virtue of section 127 of the Taxation of Chargeable Gains Act 1992.
1992 c. 12.”

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