Related Commentary  Related HMRC Manuals

670(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.

670(2)  Subsection (3) applies if there is a disposal of the asset representing the creditor relationship mentioned in section 645(2).

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