304U.K.The Greater London Authority Act 1999 is amended as follows.
305U.K.In section 157(4) (restriction on exercise of certain powers except through a company) for paragraph (a) substitute—
“(a)section 984 of the Corporation Tax Act 2010 (exemption of local authorities from corporation tax);”.
306U.K.In section 419(2) (taxation: certain bodies treated as a local authority) for paragraph (a) substitute—
“(a)section 984 of the Corporation Tax Act 2010 (exemption of local authorities from corporation tax);”.
307(1)Amend paragraph 13 of Schedule 33 (taxation provisions: public-private partnership agreements: sale and leaseback) as follows.U.K.
(2)In sub-paragraph (1)—
(a)for “section 779” substitute “ section 838 or 839 ”,
(b)for “section 782 (leased assets: special cases)” substitute “ section 865 (leased trading assets: tax deduction not to exceed commercial rent) ”, and
(c)for “Income and Corporation Taxes Act 1988” substitute “ Corporation Tax Act 2010 ”.
(3)In sub-paragraph (2) for “Section 781” substitute “ Chapter 4 of Part 19 ”.