Section 417 | Further provisions about elections under section 416

(1)An election under section 416 must be made not later than 90 days after the acquisition of the relevant assets or, if there is more than one acquisition, the first of them.

(2)The election is irrevocable.

(3)The election has effect from the beginning of the period of account in which the first relevant asset is acquired.

(4)In this section “relevant assets” has the same meaning as in section 416.