9.—(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(1).”.