Amendments to Schedule 2 to the Income Tax Act 2007

2.—(1) Schedule 2 to the Income Tax Act 2007 (transitionals and savings) is amended as follows.

(2) In paragraph 38 (qualifying trading companies)—

(a) in sub-paragraph (2), in the substituted subsection (3)(b), for “at that time and has not since” substitute “at that time and has not before”, and

(b) in sub-paragraph (4) omit “on or”.

(3) In paragraph 46 (the unquoted status requirement), in sub-paragraphs (2)(a) and (3)(a), omit “on or”.