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Paragraph 3 Non-income losses

Original text. Later amendments are not shown.

Non-income losses shall be excluded for the purposes of paragraph 2 above to the extent that—

(a)

they were sustained or incurred otherwise than as a result of ceasing, by reason of the enactment or coming into force of section 1 of the Act, to carry on a qualifying business;

(b)

they were not reasonably sustained or incurred; or

(c)

they are recoverable from any other source.