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Paragraph 9 Adjustments in respect of options

Original text. Later amendments are not shown.

For the purposes of paragraph 8 above, the society shall be deemed to have acquired or disposed of assets pursuant to an option if, at the relevant date, it is a party to an option and it is prudent to assume that the option will be exercised and the option is one which—

    1. (a)

      provides for the acquisition of assets by the society; or

    2. (b)

      is listed and provides for the disposal of assets by the society; or

    3. (c)

      is not listed but provides for the disposal of assets by the society to an approved counterparty and it is prudent to assume that such disposal will take place within one year of the relevant date.