[144ZA Application of market value rule in case of exercise of option]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[144ZA  Application of market value rule in case of exercise of option]

[(1)     [Subject to section 144ZB,] this section applies where—

(a)     an option is exercised, so that by virtue of section 144(2) or (3) the grant or acquisition of the option and the transaction resulting from its exercise are treated as a single transaction, and

(b)     section 17(1) (“the market value rule”) applies, or would apply but for this section, in relation to—

(i)     the grant of the option,

(ii)     the acquisition of the option (whether directly from the grantor or not) by the person exercising it, or

(iii)     the transaction resulting

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