712Identification of shares after reorganisations etc.U.K.
(1)This section applies if shares (“”) are treated under Chapter 2 of Part 4 of TCGA 1992 (reorganisations etc.) as the same assets as other shares (“”).
(2)If all the old shares met—
(a)the condition in section 709(4) (annual acquisition limit), and
(b)if it applied to the old shares, the condition in section 709(6) (acquisition for genuine commercial reasons),
the new shares are treated as doing so.
(3)If only some of the old shares met those conditions, the corresponding proportion of the new shares are treated as meeting them and the remainder are treated as not doing so.
(4)In the tax year in which the new shares are acquired the value of the new shares is ignored in determining whether other shares acquired in the same tax year meet the condition in section 709(4).