There are currently no known outstanding effects for the Corporation Tax Act 2009, Cross Heading: Issuers of securities with embedded derivatives: deemed options.
94(1)This paragraph applies if the company mentioned in section 652(1) was a party to the debtor relationship mentioned in section 652(2) immediately before its first accounting period to begin on or after 1 January 2005.U.K.
(2)Section 653 (shares issued or transferred as a result of exercise of deemed option) does not apply.
(3)If section 654(2) (payment instead of disposal on exercise of deemed option) applies—
(a)CV is taken to be nil, and
(b)an allowable loss of an amount equal to X is treated as accruing to the company in the accounting period mentioned in section 654(2).
(4)Section 655 (ceasing to be party to debtor relationship when deemed option not exercised) does not apply.
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