Section 69 | Identification: disposal to husband or wife and third person. ^F1

(1)Where, in the case of a man and his wife living with him, one of them—^F1

(a)disposes of gilt-edged securities of any kind to the other, and^F1

(b)disposes of gilt-edged securities of the same kind to a third person,^F1

then, if under the preceding provisions of this Chapter any of the securities disposed of to the husband or wife would be identified with securities acquired within the twelve months preceding the disposal and any of the securities disposed of to the third person with securities not so acquired, the securities disposed of to the third person shall be identified with securities so acquired before any securities disposed of to the husband or wife are so identified.

(2)If there is more than one disposal to the wife or husband, or to a third party, the provisions of this section shall be applied to securities disposed of at an earlier date before they are applied to securities disposed of at a later date, and the identification of the securities disposed of at the earlier date shall have effect also for determining what securities might be comprised in the later disposal.^F1