2) No Actual Disposal Par76B 8th Sch
-Co. Repays share premium to SH, or
-Reduction in par-value of shares
-I.e. Where SH still owns shares
-Consolidation & division of shares ≠ disposal
•RoC= Reduce BC of Share
•If BC is reduced to R0, additional amounts will be a Cap Gain
•If RoC relates to pre VD asset; 1 Determine BC using normal pre-VD rules, 2) P=MV of shares, 3) Calculate gain/loss, 4) Deemed re-acquisition at new BC which is OG BC +/- loss/gain, 5)Reduce new BC with RoC, 6) Excess= Cap gain