Amendment of Part 9 of Schedule 26
Amendment of paragraph 45HA of Schedule 2619
1
Amend paragraph 45HA 14 as follows.
2
For sub-paragraph (1) and the heading preceding paragraph 45HA substitute—
Treatment of credits and debits on terminal exercise of non-embedded option or running to delivery of future45HA
1
This paragraph applies where—
a
a company is party to a derivative contract in an accounting period,
b
the derivative contract is a plain vanilla contract which is an option,
c
rights comprised in the plain vanilla contract are exercised to any extent in that accounting period, and
d
those rights are rights to acquire shares.
1A
This paragraph also applies where—
a
a company is party to a derivative contract in an accounting period,
b
the derivative contract is a plain vanilla contract which is a future,
c
delivery is taken of an asset in accordance with the terms of the future, and
d
that asset is shares.
3
In sub-paragraph (2)—
a
for “In any such case” substitute “Where this paragraph applies”, and
b
for “so acquired” substitute “acquired or delivered”.
4
In sub-paragraph (4), in the definition of “G”, for “sub-paragraph (1)(b)” substitute “sub-paragraph (1)(c) or the delivery mentioned in sub-paragraph (1A)(c)”.