(1) Section 246 of the Principal Act is amended -
(a) in subsection (3), by inserting the following after paragraph (b):
"(bb) interest paid in the State by a company to another company, being a company to which paragraph (a) of subsection (5) applies, for so long as that other company is a company to which that paragraph applies,",
and
(b) by inserting the following after subsection (4):
(a) This paragraph shall apply to a company -
(i) which advances money in the ordinary course of a trade which includes the lending of money,
(ii) in whose hands any interest payable in respect of money so advanced is taken into account in computing the trading income of the company, and
(iii) which -
(I) has notified in writing the appropriate inspector to whom the company makes the return referred to in section 951 that it meets the requirements of subparagraphs (i) and (ii), and
(A) has notified the first company referred to in subsection (3) (bb) in writing that it is a company which m
…