4.—(1) The use of a credit-token described in paragraph (2)
below is a description of use excluded from the scope of section 203H.
(2) The use described is the use by an employee of a credit-token to obtain money in circumstances where the money—
(a)is used to defray expenses, and
(b)would not, if it had been paid directly to him by his employer, have been chargeableto income tax under Schedule E except by virtue of section 153 of the Taxes Act(1).
Section 153 was amended by section 53(2)(b) of the Finance Act 1989 (c. 26).