6(1)Paragraph 11 is amended as follows.
(2)In sub-paragraph (1) (which is expressed to be subject to sub-paragraphs (2) to (3A)) for “(2)” substitute “(1A)”.
(3)After sub-paragraph (1) insert—
“(1A)Notwithstanding section 80(5) of this Act, sub-paragraph (1) above shall not apply to debits or credits in respect of amounts which—
(a)fall to be adjusted for tax purposes under Schedule 28AA to the Taxes Act 1988 (provision not at arm’s length), or
(b)fall within that Schedule without falling to be so adjusted.
(1B)For the purposes of sub-paragraph (1A) above, an amount falls within Schedule 28AA to the Taxes Act 1988 without falling to be adjusted under that Schedule in a case where—
(a)the conditions in paragraph 1(1) of that Schedule are met, and
(b)the actual provision does not differ from the arm’s length provision.”.