Related Commentary  

664(1)  This section applies for the purposes of section 663.

664(2)  If for an accounting period L exceeds G, there are net section 641 losses for the period of an amount equal to the excess.

664(3)  If for an accounting period G exceeds the sum of L and N, there are net section 641 gains for the period of an amount equal to the excess.

664(4)  In this section–

G is the sum of the amounts of any chargeable gains treated as accruing to the company in the period under section 641(3)(a) in respect of derivative contracts of the company (“section 641 gains”),

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