24(1)This paragraph applies to assets—U.K.
(a)which, under the old law, were assets excluded from Part 8 of CTA 2009 (intangible fixed assets), and
(b)which, as a result of provision made by this Part of this Act, become assets which are not excluded from Part 8 of that Act.
(2)Any expenditure incurred before 1 January 2013 on an asset to which this paragraph applies is to be left out of account in determining any amount to be brought into account under Part 8 of CTA 2009.
(3)Section 780 of CTA 2009 (company ceasing to be member of group: deemed realisation and re-acquisition at market value) is not to apply in relation to any asset to which this paragraph applies.
(4)For the purposes of this paragraph references to an asset's exclusion from Part 8 of CTA 2009 includes its exclusion from that Part except as respects royalties.
(5)In this paragraph “the old law” means the law as it had effect immediately before the day on which this Act is passed.