50 Shares acquired on same day: election for alternative treatment

50  Shares acquired on same day: election for alternative treatment

(1)     After section 105 of the Taxation of Chargeable Gains Act 1992 (c 12) (disposal on or before day of acquisition of shares and other unidentified assets) insert—

“105

Shares acquired on same day: election for alternative treatment

(1)     Subsection (2) below applies where an individual—

(a)     acquires shares (“the relevant shares”) of the same class, on the same day and in the same capacity, and

(b)     some of the relevant shares (“the approved-scheme shares”) are shares acquired by him as a result of—

(i)     the exercise of a qualifying option within the meaning of paragraph 1(1) of Schedule 14 to the Finance Act 2000 (enterprise management incentives) in circumstances where paragraph 44, 45 or 46 of that Schedule (exercise of option to acquire shares) applies, or

(ii)     the exercise of an option to which subsection (1) of section 185 of the Taxes Act (approved share option schemes) applies in circumstances where paragraphs (a) and (b) of subsection (3) of that section apply.

(2)     Where the individual first makes a disposal of any of the relevant shares, he may elect for subsections (3) to (5) below to have

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