11(1)Section 85C of FA 1996 (amounts not fully recognised for accounting purposes) is amended as follows.U.K.
(2)In subsection (1)—
(a)in paragraph (c), for the words from “has at any time” to “liability”)” substitute “ an amount (a “relevant capital contribution”) has at any time been contributed to the company which forms part of its capital (whether share or other capital) ”, and
(b)in paragraphs (d) and (e), for “relevant accounting liability” substitute “ relevant capital contribution ”.
(3)In subsection (2)—
(a)for “or relevant accounting liability of the company” substitute “ of the company or any relevant capital contribution made to the company ”, and
(b)for “or liability” (in both places) substitute “ or contribution ”.
(4)The amendments made by this paragraph have effect in relation to periods of account ending on or after 9th May 2007.
(5)But, in relation to periods of account beginning before that date, amounts are to be brought into account for the purposes of Chapter 2 of Part 4 of FA 1996 as a result of those amendments only if the amounts relate to any time on or after that date.