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24(1)Paragraph 6B (bad debts etc.: companies becoming connected) is amended as follows.
(2)In the heading for “Bad debt etc” substitute “Impairment losses”.
(3)In sub-paragraph (1) for the words following paragraph (b) substitute “an impairment loss is not excluded by paragraph 6(3) in the following two cases”.
(4)In sub-paragraph (2)—
(a)for the opening words down to “if—” substitute “The first case is where—”;
(b)in paragraph (a) for “a departure has been allowed under paragraph 5 (1) above” substitute “an impairment loss has been brought into account for the purposes of this Chapter”.
(5)In sub-paragraph (3) for “A departure shall be allowed” substitute “An impairment loss may be brought into account”.
(6)For sub-paragraph (5) substitute—
“(5)The second case is where the following conditions are met.”.
(7)In sub-paragraph (7) for “A departure shall be allowed” substitute “An impairment loss may be brought into account”.
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