Paragraph 53 (time limit for recovery of excessive payments etc) is amended as follows.

In sub-paragraph (1), for “six year” substitute “ 4 year ”.

In sub-paragraph (2), for “paragraph 46(2) (time limit for assessment in case of fraud or negligence)” substitute “ paragraph 46(2) and (2A) (time limit for assessment in case of loss of tax brought about carelessly or deliberately) ”.