202(1)Amend section 525 (receipts from sale of patent right: death, winding up or partnership change) as follows.
(2)For subsection (1) substitute—
“(1)Where a body corporate on which, by reason of the receipt of a capital sum, a charge falls or would otherwise fall to be made under section 524 commences to be wound up—
(a)no sums shall be charged under that section on that body for any accounting period subsequent to that in which the winding up commences; and
(b)the amount falling to be charged for the accounting period in which the winding up commences shall be increased by the total amounts which, but for the winding up, would have fallen to be charged for subsequent accounting periods.”
(3)Omit subsection (2).
(4)In subsection (4)—
(a)in paragraph (a)—
(i)for “chargeable period” substitute “accounting period”,
(ii)omit “(or, if he is dead, his personal representatives)”, and
(iii)for “his” substitute “its”, and
(b)omit paragraph (b) and the word “and” immediately preceding it.
(5)In the sidenote omit “death,”.