2(1)In paragraph 5 of that Schedule (the formula deduction) in sub-paragraph (3) (disposals where formula deduction is nil and determination of " the exempt amount") for the words from the beginning to " does not exceed" there shall be substituted " In relation to a material disposal, any reference in the following provisions of this paragraph to ' the exempt amount' is a reference to " and for the words from " £10,000 " to the end of the sub-paragraph there shall be substituted " £50,000 ".
(2)Sub-paragraphs (4) and (5) of that paragraph (the formula deduction for other disposals in interim financial years) shall be omitted.
(3)In sub-paragraph (6) of that paragraph (the formula deduction for other disposals) the words from the beginning to " then " shall be omitted and, in paragraph (b), for " 80 per cent. " there shall be substituted " 60 per cent. ".
(4)In sub-paragraph (7) of that paragraph (" the appropriate percentage " to be determined by regulations) for " such " there shall be substituted " 30 per cent, or such other
(5)In sub-paragraph (8) of that paragraph the words " sub-paragraph (4)(b) or, as the case may be" shall be omitted.