Paragraph 73

Section 674 (disallowance of trading losses) is amended as follows.

In subsection (2), after “45” insert “ , 45B, 303B or 303D ”.

After subsection (2) insert—

“(2A)

No relief may be given under section 45A or 303C for a loss made by the company in an accounting period beginning before the change in ownership by carrying forward the loss and deducting it from a company's total profits of an accounting period ending after the change in ownership.”