- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)Subsection (2) applies if—
(a)the option mentioned in section 652(3) is exercised at any time in the accounting period,
(b)no shares are issued or transferred in fulfilment of the obligations under the option, and
(c)an amount is paid in fulfilment of those obligations.
(2)If —
(a)CV exceeds X, a chargeable gain equal to the amount of the excess is treated as accruing to the company in the accounting period,
(b)X exceeds CV, an allowable loss equal to the amount of the excess is treated as accruing to the company in the accounting period.
(3)In this section—
“CV” means—
if the company was a party to the debtor relationship mentioned in section 652(2) at the time it was created, the carrying value of the option at that time, or
if the company became a party to that relationship at a later time, the carrying value of the option at that time,
“X” means the amount paid by the debtor in fulfilment of the obligations under the debtor relationship reduced (but not below nil) by the fair value of the host contract at the date on which the option is exercised, and
“the host contract” means the loan relationship to which the company is treated as a party under section 415(2) (loan relationships with embedded derivatives) because of the debtor relationship.
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