Paragraph 19

(1)

Section 269CB (restriction on deductions for pre-1 April 2015 non-trading deficits from loan relationships) is amended as follows.

(2)

In subsection (2), in the second sentence—

(a)

for “269CD” substitute “ 269ZF ”, and

(b)

for “step 6 in subsection (1)” substitute “ subsection (2) ”.

(3)

In subsection (3), for the words from “where” to the end substitute “ in relation to a banking company for an accounting period where, in determining the company's relevant non-trading profits for the period, the amount given by step 1 in section 269ZF(3) is not greater than nil ”