Related Commentary  

149(1)  This section applies for the purpose of calculating the profits of a person's trade if a profit on the sale of securities would be brought into account in calculating the profits of the trade.

149(2)  Profits and losses from the securities that in accordance with generally accepted accounting practice are–

(a)calculated by reference to the fair value of the securities, and

(b)recognised in the person's statement of recognised gains and losses or statement of changes in equity,

are brought into account in calculating the profits of the trade.

149(3)  But subsection (2) does not apply–

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