This section applies, in the case of any pre-change asset of the relevant company or any pre-change asset of any company which is acquired on a disposal to which section 171(1) applies, if—
None of the other securities are to be regarded for the purposes of this Act as forming part of the pre-change pooled asset.
But this does not prevent the other securities from being regarded, as a result of any provision of that Chapter, as forming part of or constituting a different, single asset ("the other pooled asset").
Securities of the same class as the other securities which are disposed of at or after the relevant time—
The above identification rules apply even if some or all of the securities disposed of are otherwise identified—
but where a company disposes of securities in one capacity, they are not to be identified with securities which it holds, or can dispose of, only in some other capacity.
Chapter 1 of Part 4 has effect subject to this section.
In this section—
"pre-change asset" means an asset which is pre-change asset for the purposes of section 184A or 184B,
"securities" does not include relevant securities as defined in section 108 but, subject to that, means—
(a)shares or securities of a company, and
(b)any other assets where they are of a nature to be dealt in without identifying the particular assets disposed of or acquired.
For the purposes of this section, shares or securities of a company are not to be treated as being of the same class unless—