(1)The amount of a bookmaker’s retained winnings profits in respect of a class of bets for an accounting period is the aggregate of amounts which cease to be qualifying amounts in the accounting period.
(2)An amount is a qualifying amount for the purposes of this section if, as a result of a person (“P”) being notified as mentioned in section 140(2)(b), it has been taken into account in calculating the bookmaker’s ordinary profits for bets of that class in any accounting period.
(3)An amount ceases to be a qualifying amount for the purposes of this section if, otherwise than by virtue of being withdrawn by P as mentioned in section 140(2)(b), P ceases to be entitled to withdraw it.
(4)The Commissioners may by notice published by them direct that subsection (3) is not to apply in a specified case or class of cases.