613ASupplementary provisions.

(1) Subject to this section, subsection (2) shall apply where—

(a) section 579B applies as regards the trustees of a settlement,

(b) after the relevant time (within the meaning of that section) a person disposes of an interest created by or arising under the settlement and the circumstances are such that subsection (4)(a) of section 613 does not apply by virtue of subsection (5)(a) of that section, and

(c) the interest was created for the benefit of the person making the disposal or that person otherwise acquired it, before the relevant time.

(2) For the purposes of calculating any chargeable gain accruing on the disposal of the interest, the person disposing of it shall be treated as having—

(a) disposed of it immediately before the relevant time, and

(b) immediately reacquired it,

at its market value at that time.

(3) Subsection (2) shall not apply if section 579E applied as regards the trustees in circumstances where the time concerned (within the meaning of that section) fell before the time when the interest was created for the benefit of the person disposing of it or when the person otherwise acquired it.

(4) Subsection (6) applies where—

(a) section 579B applies as regards the trustees of a settlement,

(b) after the relevant time (within the meaning of that section) a person disposes of an interest created by or arising under the settlement and the circumstances are such that subsection (4)(a) of section 613 does not apply by virtue of subsection (5)(a) of that section,

(c) the interest was created for the person’s benefit, or the person otherwise acquired it, before the relevant time, and

(d) section 579E applied as regards the trustees in circumstances where the time concerned (within the meaning of that section) fell in the relevant period.

(5) The relevant period is the period which—

(a) begins when the interest was created for the benefit of the person disposing of it or when the person otherwise acquired it, and

(b) ends with the relevant time.

(6) For the purposes of calculating any chargeable gain accruing on the disposal of the interest, the person disposing of it shall be treated as having—

(a) disposed of it immediately before the time determined in accordance with subsection (7), and

(b) immediately reacquired it,

at its market value at that time.

(7) The time mentioned in subsection (6) is—

(a) where there is only one such time, the time concerned, or

(b) where there is more than one time concerned, because section 579E applied more than once, the earliest time concerned.

(8) Where subsection (2) applies, subsection (6) shall not apply.