356U.K.For section 65(5) (reimbursement by defaulter in respect of certain abandonment expenditure) substitute—
“(5)For the purposes of subsection (4) above, the relevant accounting period is the accounting period in which the reimbursement expenditure is received by the contributing participator or, if the contributing participator—
(a)ceases to carry on the ring fence trade before the receipt of the reimbursement expenditure, or
(b)ceases to be within the charge to corporation tax in respect of the ring fence trade before the receipt of the reimbursement expenditure,
the last accounting period of that trade or (as the case requires) the accounting period during or at the end of which the contributing participator ceased to be within the charge to corporation tax in respect of the trade.”