Paragraph 26

(1)

Section 3 (annual exempt amount) is amended as follows.

(2)

In subsection (5), for the words from “which, after” to the end of paragraph (c) substitute “ which ”.

(3)

In subsection (5C)(c)—

(a)

for “in a year in which any amount falls to be brought into account by virtue of section 2(5)(b)” substitute “ if section 2(4) applies for that year, ”, and

(b)

for “falling to be so brought into account” substitute “ mentioned in section 2(4)(b)(ii) ”.