5.—(1) Section 755B shall be modified as follows.
(2) After subsection (4) there shall be inserted–
“(4A) Where in accordance with subsection (4) above the technical provision is treated as finally replaced by a provision for estimated claims outstanding (“the deemed provision”), the amount of the deemed provision which may be deducted from the chargeable profits of the controlled foreign company for the accounting period concerned shall not exceed the amount that, on the assumptions in Schedule 24, would have been deductible from those profits if the deemed provision had been an actual provision as mentioned in subsection (2)(a) above.”