SCHEDULES
SCHEDULE 16Controlled foreign companies
Part 3Reduction in chargeable profits for certain financing income
24Reduction in chargeable profits for certain financing income
1
Section 751B (supplementary) is amended as follows.
2
In the heading, for “Section 751A” substitute “Sections 751A and 751AA”.
3
In subsections (1), (2), (3) (in each place) and (5), after “751A” insert “or 751AA”.
4
In subsection (8)—
a
after ““the relevant amount”” insert
—
a
in the case of an appeal in respect of the refusal of an application under section 751A,
b
after “mentioned in that subsection” insert
, and
b
in the case of an appeal in respect of the refusal of an application under section 751AA, has the meaning given by subsection (5) of that section.
5
In subsection (10)—
a
after “751A” insert “or 751AA”, and
b
after “751A(1)” insert “or 751AA(1)”.