9U.K.In paragraph 12(4) of Schedule 7AC to the Taxation of Chargeable Gains Act 1992 (c. 12) (exemptions for disposals by companies with substantial shareholding: effect of repurchase agreement), for paragraph (b) substitute—
“(b)the original owner or a person connected with him—
(i)is required to buy them back in pursuance of an obligation imposed by, or in consequence of the exercise of an option acquired under, that agreement or any related agreement, or
(ii)acquires an option to buy them back under that agreement or any related agreement which he subsequently exercises.”.