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Paragraph 7 Transitional provisions having effect in relation to a relevant financial year of a company

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

New section 388A(1) and (3), inserted by section 119(1) of the 1989 Act, shall not apply with respect to a relevant financial year of a company and:

(a)

the reference in section 384 to that section shall be construed, with respect to such a year, as a reference to section 252 of the unamended 1985 Act; and

(b)

sections 388A(4), and 388A(2) and (5) so far as they relate to section 388A(4), shall apply with respect to a loss of an exemption under section 252 of the unamended 1985 Act.