(1) Section 13 of the Finance Act, 1993, is hereby amended in subsection (8) by the insertion after paragraph (b) of the following paragraph:
(i) Where in a year of assessment (in this paragraph referred to as ‘the first year of assessment’) any securities which are assets subject to any trust created in pursuance of a special investment scheme are disposed of and in the immediately following year of assessment interest becoming payable in respect of the securities is receivable by the special investment scheme, then, for the purposes of computing the chargeable gains for the first year of assessment the price paid by the management company or the trustee for the securities shall be treated as reduced by the appropriate amount in respect of the interest:
Provided that where for a year of assessment the provisions of this paragraph apply so as to reduce the price paid for securities, the amount by which the price paid for the securities is reduced shall be treated as a lo