§
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.