In section 198 (replacement of business assets used in connection with oil fields), for subsection (3) substitute—

“(3)

Where—

(a)

section 152 or 153 applies in relation to any of the consideration on a material disposal, and

(b)

the asset which constitutes the new assets for the purposes of that section is a depreciating asset,

section 154(2)(b) is to have effect as if the reference to a trade carried on by the claimant were a reference solely to the claimant's ring fence trade.”