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3After section 4A (as substituted by paragraph 2) insert—
(1)This section applies if the gains accruing to a person in a tax year are (apart from this section) chargeable to capital gains tax at different rates.
(2)Allowable losses may be deducted from those gains, and the exempt amount under section 3 may be used in respect of those gains, in such way as is most beneficial to that person.
(3)Subsection (2) is subject to any enactment which contains a limitation on the gains from which allowable losses may be deducted.”
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