Convertible securities

Deeply discounted securities

Exchange of shares or securities

Generally

Venture capital trusts

Exercise of options after 1 September 2003

Generally

No disposal/no acquisition rule

Additional consideration given

Additional consideration received

Anti-avoidance rule

Clearance procedure

Conditions to be satisfied

Elections to disapply

Generally

No acquisition of new holding

No disposal of original shares

Qualifying corporate bonds

Restricted securities

Types of

Venture capital trusts