150 Conversion etc of securities held as circulating capital

150  Conversion etc of securities held as circulating capital

(1)     This section applies for the purpose of calculating the profits of a trade if—

(a)     a transaction falling within subsection (2) occurs in relation to securities (“the original holding”), and

(b)     a profit on the sale of the securities would be brought into account in calculating the profits of the trade.

(2)     A transaction falls within this subsection if—

(a)     it results in a new holding being treated as the same as the original holding as a result of sections 126 to 136 of TCGA 1992 (CGT roll-over relief in cases of conversion etc), or

(b)     it is treated, as a result of section 134 of TCGA 1992 (compensation stock),

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