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(1)Part 13 of CTA 2009 (additional relief for expenditure on research and development) is amended as follows.
(2)In section 1052 (qualifying expenditure on in-house direct R&D)—
(a)in subsection (1), for “conditions A to E” substitute “conditions A, B, D and E”, and
(b)omit subsection (4) (condition C: intellectual property created as result of research and development to which expenditure is attributable to be vested in company).
(3)In section 1053 (qualifying expenditure on contracted out R&D)—
(a)in subsection (1)(b), for “conditions A to D” substitute “conditions A, C and D”, and
(b)omit subsection (3) (condition B: same intellectual property condition).
(4)In section 1071 (subsidised qualifying expenditure on in-house direct R&D)—
(a)in subsection (1), for “conditions A to E” substitute “conditions A to C and E”, and
(b)omit subsection (5) (condition D: same intellectual property condition).
(5)In section 1072 (subsidised qualifying expenditure on contracted out R&D)—
(a)in subsection (1)(b), for “conditions A to F” substitute “conditions A to D and F”, and
(b)omit subsection (6) (condition E: same intellectual property condition).
(6)Omit section 1139 (meaning of “intellectual property”).
(7)In Schedule 4 to CTA 2009 (index of defined expressions), omit the entry relating to “intellectual property (in Part 13)”.
(8)The amendments made by this section have effect in relation to expenditure incurred by a company in an accounting period ending on or after 9 December 2009.
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