HC Deb 25 March 1968 vol 761 c1069

Motion made, and Question, That for the year 1967–68 and subsequent years of assessment charges to income tax may be imposed by providing that share capital issued by a company in consequence of a person's exercise of an option conferred on or after 19th March 1968 to receive either a cash dividend or share capital is to be treated for the purposes of the Corporation Tax Acts as a distribution by the company, having a value equal to the gross amount of the dividend which the person could have accepted instead.—[Mr. Roy Jenkins.]

put forthwith pursuant to Standing Order No. 90(2) (Ways and Means motions), and agreed to.