221. Relief for losses.



    (1)     a person is treated as making accrued income losses1 in an interest period2 as a result of transfers of securities3; and


    (2)     the period does not end with an interest payment day4,

the person is treated for the purposes of the provisions on accrued income profits5 as making a payment on a transfer of the securities in the next interest period equal to the amount of the losses6.

If there is a transfer of securities in relation to which a person ('P') is an excluded transferor or excluded transferee