Corporation Tax Act 2009

150 (1) Amend section 444AECC (parts of transfer scheme arrangements: Case I advantage transferee) as follows.

(2) In subsection (1)—

(a) for “Case I advantage” substitute “life assurance trade profits advantage”, and

(b) in paragraphs (a) and (b) for “Case I” substitute “section 35”.

(3) In subsection (2)—

(a) for “Case I profits” substitute “section 35 profits”,

(b) for “Case I losses” substitute “section 35 losses”, and

(c) for “Case I advantage” substitute “life assurance trade profits advantage”.

(4) In subsection (3)—

(a) for “a Case I advantage” substitute “a life assurance trade profits advantage”,

(b) for “the Case I advantage” substitute “the advantage”, and

(c) in paragraphs (a) and (b) for “Case I” substitute “section 35”.

(5) In subsection (5) for “Case I”, in both places where it occurs, substitute “section 35”.

(6) In the title for “Case I” substitute “life assurance trade profits”.