if (!(seg_desc.type & 8))
                        goto exception;
 
-               /* RET can never return to an inner privilege level. */
-               if (transfer == X86_TRANSFER_RET && rpl < cpl)
-                       goto exception;
+               if (transfer == X86_TRANSFER_RET) {
+                       /* RET can never return to an inner privilege level. */
+                       if (rpl < cpl)
+                               goto exception;
+                       /* Outer-privilege level return is not implemented */
+                       if (rpl > cpl)
+                               return X86EMUL_UNHANDLEABLE;
+               }
                if (transfer == X86_TRANSFER_RET || transfer == X86_TRANSFER_TASK_SWITCH) {
                        if (seg_desc.type & 4) {
                                /* conforming */
        rc = emulate_pop(ctxt, &cs, ctxt->op_bytes);
        if (rc != X86EMUL_CONTINUE)
                return rc;
-       /* Outer-privilege level return is not implemented */
-       if (ctxt->mode >= X86EMUL_MODE_PROT16 && (cs & 3) > cpl)
-               return X86EMUL_UNHANDLEABLE;
        rc = __load_segment_descriptor(ctxt, (u16)cs, VCPU_SREG_CS, cpl,
                                       X86_TRANSFER_RET,
                                       &new_desc);