5(1)Section 768D of the Taxes Act 1988 is amended as follows.U.K.
(2)In subsection (1) (case where section applies)—
(a)in paragraph (a) (investment company) for “an investment company” substitute “ a company with investment business ”, and
(b)in paragraph (b) (company other than investment company) for “an investment company” substitute “ a company with investment business ”.
(3)In subsection (4) (apportionment of profits and losses to two periods)—
(a)in paragraph (a) (investment company) for “an investment company” substitute “ a company with investment business ”, and
(b)in paragraph (b) (company other than investment company) for “an investment company” substitute “ a company with investment business ”.
(4)In subsection (6) (restriction of profits from which certain losses may be deducted) for “an investment company”, wherever occurring, substitute “ a company with investment business ”.
(5)In subsection (8) (definitions) for paragraph (b) (investment company) substitute—
“(b)“company with investment business” has the same meaning as in Part 4.”.