Section 958 (as amended by the Finance Act, 2001) of the Principal Act is amended -
(a) by substituting the following for subsection (1):
(a) In this section -
'corresponding corporation tax for the preceding chargeable period', in relation to a chargeable period which is an accounting period of a company, means an amount determined by the formula -
where -
T is the corporation tax payable by the chargeable person for the preceding chargeable period,
C is the number of months in the chargeable period, and
P is the number of months in the preceding chargeable period;
'pre-preceding chargeable period', in relation to a chargeable period, means the chargeable period next before the preceding chargeable period;
'relevant limit', in relation to a chargeable period which is an accounting period of a company, means €50,000; but where the length of a chargeable period is less than 12 months the relevant limit in relation to the chargeable period shall be proportionately reduced.
(b) Fo
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