§ Amendments made: No. 51, in page 218, line 12, after `If, insert—
§ '(a)'.
§ No. 52, in page 218, line 14, after 'accruing,', insert
§ `and
§ (b) credits representing the full amount of the interest are not for any accounting period brought into account for the purposes of this Chapter in respect of the corresponding creditor relationship,
§ then'.
§ No. 53, in page 226, line 29, after 'period', insert ("the relevant period")'.
§ No. 54, in page 226, line 32, leave out from 'security' to end of line 35 and insert
§ "is available to another company at any time in that period;
- (c) for that period there is a connection between the issuing company and the other company, and
- (d) credits representing the full amount of the discount that is referable to that period are not for any accounting period brought into account for the purposes of this Chapter in respect of the corresponding creditor relationship.'.
§ No. 55, in page 226, line 38, leave out from 'that' to end of line 42 and insert
§ `every debit relating to the amount of the discount that is referable to the relevant period is brought into account for the accounting period in which the security is redeemed, instead of for the relevant period.
§ (2A) References in this paragraph to the amount of the discount that is referable to the relevant period are references to the amount relating to the difference between—
- (a) the issue price of the security, and
- (b) the amount payable on redemption,
§ which (apart from this paragraph) would for the relevant period be brought into account for the purposes of this Chapter in the case of the issuing company.'.
§ No. 56, in page 226, line 49, leave out 'at any time' and insert 'for the relevant period'.
§ No. 57, in page 227, line 1, leave out from beginning to 'one' in line 2 and insert—
- '(a) there is a time in that period or in the period of two years before the beginning of that period when'.
§ No. 58, in page 227, line 4, leave out
§ at that time, or at any time in those two years'
§ and insert
§ 'there is a time in that period or in those two years when'.—[Mr. Jack]