Further points

The usual rule in TCGA92/S272 (3) does not apply if the prices quoted in the Daily Official List are affected by special circumstances. Any claim that there are special circumstances should be referred to SAV.

Market closed

If the London Stock Exchange is closed then the valuation method depends on the date of valuation.

For valuation dates before 6 April 2015 the value to be used is the lower of the values under old TCGA92/S272(3) for the days immediately before and immediately following the closure (old TCGA92/S272(4)).

For valuation dates on of after 6 April 2015 the value is that on the day immediately before the closure (Regulation 2(b) of SI 2015/616).

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