The provisions of
articles 92, and
150-0 Aare not applicable to exchanges of securities carried out under the
loi de nationalisation n° 82-155 du 11 février 1982.
In the event of the sale of the securities received in exchange, the capital gain or loss is calculated on the basis of the acquisition price or value of the securities that gave rise to the right to compensation.
For the application of these provisions, the redemption of the securities received in exchange is treated as a sale.

