§
Resolved,
That provision may be made for the purpose of capital gains tax and corporation tax on chargeable gains—
- (a) excluding from an election under section 96(5) of the Finance Act 1988 certain shares deriving value, directly or indirectly, from certain assets and rights associated with oil exploration or exploitation; and
- (b) limiting or extinguishing the amount of the losses on certain disposals of, or of interests in, such shares and other assets associated with the oil industry.