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88(1)Section 705 (company carrying on overseas property business) is amended as follows.
(2)In subsection (2), for “3” substitute “5”.
(3)In subsection (9), in the words after paragraph (b), for “3” substitute “5”.
(4)The amendments made by this paragraph do not have effect unless both the change in ownership referred in section 705(1) and the major change in the nature or conduct of a trade or business referred to in section 705(2) occur on or after 1 April 2017.
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