15(1)Section 301 (calculation of non-trading profits and deficits from loan relationships: non-trading credits and debits) is amended as follows.
(2)In subsection (1) for “as follows” substitute “in accordance with subsections (4) to (7)”.
(3)After subsection (1) insert—
“(1A)But in the case of a non-UK resident company the only non-trading credits and non-trading debits to be used are those in respect of loan relationships that the company is a party to for a purpose mentioned in section 5(3A)(b) or (3B)(b).”