9(1)This paragraph applies where a relevant discounted security is transferred from one person to another in a case in which—
(a)the transfer is made for a consideration which consists of or includes consideration not in money or money’s worth; or
(b)the transfer is made otherwise than by way of a bargain made at arm’s length.
(2)For the purposes of this Schedule—
(a)the person making the transfer shall be treated as obtaining in respect of it an amount equal to the market value of the security at the time of the transfer, and
(b)the person to whom the transfer is made shall be treated as paying in respect of his acquisition of the security an amount equal to that market value.