2The parts of the Board's trade transferred under Part III of the Transport (London) Act 1969 to the Executive and the Company respectively shall be treated for the purposes of the Corporation Tax Acts as having been at all times separate trades ; and—
(a)there shall be made any necessary adjustments of accounting periods, and such apportionments as may be just of receipts, expenses, allowances or charges ; and
(b)the following provisions of this Schedule shall apply separately to each of those parts.