Index: /trunk/source/lisp-kernel/arm-exceptions.c
===================================================================
--- /trunk/source/lisp-kernel/arm-exceptions.c	(revision 14532)
+++ /trunk/source/lisp-kernel/arm-exceptions.c	(revision 14533)
@@ -1650,4 +1650,9 @@
       Boolean before_alloc_trap = false;
 
+      if (IS_BRANCH_AROUND_ALLOC_TRAP(instr) {
+        before_alloc_trap = true;
+        --program_counter;
+        instr = *program_counter;
+      }
       if (IS_COMPARE_ALLOCPTR_TO_RM(instr)) {
         before_alloc_trap = true;