Paragraph 7

After section 10(4) there shall be inserted—

“(5)

In respect of the period from 31st March 1995 until the end of the financial year within which the exemption end date falls, subsections (1) to (4) above shall apply, subject to the following modifications:—

(a)

in subsection (1) the words—

“and fulfils the condition that—

(a)

it is carried out under a works contract to which section 4 above applies, or

(b)

section 6 above applies to it”

shall not apply; and

(b)

in subsection (2)(a) for the words “, is carried out by them in that year and fulfils that condition” substitute the words “and is carried out by them in that year”.”.