Paragraph 70

(1)

Section 256 (different giving effect rules for different categories of business) is amended as follows.

(2)

In subsection (3), for paragraphs (a) to (c) substitute “ section 436A of ICTA (gross roll-up business) ”.

(3)

In subsection (4)—

(a)

for “profit” substitute “ profits ”,

(b)

in paragraph (a), for “any particular category of business” substitute “ gross roll-up business ” and for “that category of business” substitute “ its gross roll-up business ”, and

(c)

in paragraph (b), for “any particular category of business” substitute “ gross roll-up business ” and for “that category of business” substitute “ its gross roll-up business ”.