Amendment of section 444AEC
21.—(1) Section 444AEC (Case I advantage: transferee) is amended as follows.
(2) In subsection (1)—
(a)in paragraph (a), for the words from “are less” to “any part” substitute “are, or at the relevant time are expected to be, less than they would be but for the whole”, and
(b)in paragraph (b), for the words from “are greater” to “any part” substitute “are, or at the relevant time are expected to be, greater than they would be but for the whole”.
(3) In subsection (2)—
(a)in paragraph (a), for the words from “are less” to “or part” substitute “are, or at the relevant time are expected to be, less than they would be but for the whole of the transfer scheme arrangements”, and
(b)in paragraph (b), for the words from “are greater” to the end substitute “are, or at the relevant time are expected to be, greater than they would be but for the whole of the transfer scheme arrangements”.
(4) In subsection (4), after ““Case I losses”” insert “and “the relevant time””.