Part IV Shares, securities, options etc.
Chapter I General
Gilt-edged securities and qualifying corporate bonds
F1116BShares beginning or ceasing to be shares to which section F2521B of CTA 2009 applies
(1)
If at any time section F3521B of CTA 2009 (application of Part 5 of that Act to certain shares as rights under a creditor relationship) begins or ceases to apply in the case of a share held by the investing company it is treated for the purposes of this Act—
(a)
as having disposed of the share immediately before that time for consideration of an amount equal to F4the notional carrying value of the share at that time, and
(b)
as having immediately reacquired it for consideration of the same amount.
(2)
In this section—
F5“notional carrying value” has the same meaning as in subsection (2) of section 521F of CTA 2009 (see subsection (3) of that section),