Where universal social charge is charged on the initial market value of shares in accordance with subparagraph (a)(ii) of the Table to section 531AM(1), it shall not be charged -
(a) where there is a disposal of shares, or a deemed disposal of shares, as referred to in subsections (2) and (7), respectively, of section 512, on the appropriate percentage of the locked-in value of those shares as construed in accordance with subsection (1) of that section, or
(b) where there is a capital receipt within the meaning of section 513(1), on the appropriate percentage of the amount or value, as the case may be, of that capital receipt.