(1)A person who meets conditions A and B may not bring into account for income tax purposes—
(a)any amount relating to changes in the value of a FOTRA security, or
(b)expenses related to holding it or to any transaction concerning it.
(2)Condition A is that the person is the beneficial owner of the security.
(3)Condition B is that the person is a person who would be exempt from tax on the security under this Chapter.