670 Treatment of net gains and losses on exercise of option
Corporation Tax Act 2009 (2009 c 4) | Legislation

Treatment of net gains and losses on exercise of option

670  Treatment of net gains and losses on exercise of option

(1)     This section applies if—

(a)     a derivative contract is one to which section 645 (creditor relationships: embedded derivatives which are options) applies for an accounting period,

(b)     rights to acquire shares fall to be treated as comprised in the derivative contract because of section 585(2), and

(c)     any of those rights are exercised or otherwise disposed of in the accounting period.

(2)     Subsection (3) applies if there is a disposal of the asset representing the creditor relationship mentioned in

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Serving outside the jurisdiction with court permission—application and order

This Practice Note addresses issues when serving out of the jurisdiction and the permission of the court is required. It explains how to make an application and the form of order required. An application to serve out of the jurisdiction is generally made without notice and on the papers. Key

LEXISNEXIS

Fraud by false representation

Fraud by false representationFraud by false representationFraud by false representation applies to a broader range of conduct than the offences under the preceding legislation (the Theft Act 1968 (TA 1968)). No gain or loss need actually be made, and no deception need operate on the mind of the

LEXISNEXIS

Traditional procurement of construction contracts

Traditional procurement of construction contractsThis Practice Note provides a basic explanation of traditional procurement in construction. It looks at why this type of procurement is used and also considers particular issues to take into account when choosing to follow this procurement route.When

LEXISNEXIS

Indirect effect of EU law

Indirect effect of EU lawWhat is indirect effect of EU law?The doctrine of indirect effect, or consistent interpretation, is a duty that national courts have, as part of the Member State responsible for fulfilment of EU obligations, to interpret national law in light of EU law, especially with