The Principal Act is hereby amended as respects accounting periods ending on or after the 1st day of April, 1998, in Schedule 24 -

(a) by the substitution for -

"Relief from Income Tax and Corporation Tax by Means of Credit in Respect of Foreign Tax

Interpretation

1.

(1) In this Schedule, except where the context otherwise requires -"

of

"Relief from Income Tax and Corporation Tax by Means of Credit in Respect of Foreign Tax

Part 1 

Interpretation

1.

(1) In this Schedule, except where the context otherwise requires -",

(b) in paragraph 1(1), by the substitution for the definition of "foreign tax" of the following definition:

"'foreign tax' means -

(a) in the case of any territory in relation to which arrangements have the force of law, any tax chargeable under the laws of that territory for which credit may be allowed under the arrangements, and

(b) in any other case, any tax chargeable in respect of which credit may be allowed by virtue of subparagraph (3) of paragraph 9A.",

(c) by the insertion, after paragraph 9, of the following paragraphs:

"Part 2 Unilateral Relief