(1) Section 198 of the Principal Act is amended in subsection (1)(c) -

(a) in subparagraph (iii) by inserting ", an interest payment to which section 246A applies" after "to which section 64(2) applies" and by deleting "and" where it last occurs,

(b) in subparagraph (iv), by substituting "assets of the qualifying company, and" for "assets of the qualifying company.", and

(c) by inserting the following after subparagraph (iv):

"(v) a person shall not be chargeable to income tax in respect of discounts arising on securities issued by a relevant person (within the meaning of section 246) in the ordinary course of a trade or business carried on by that person if the first mentioned person is not a resident of the State and is regarded as being a resident of a relevant territory for the purposes of this subsection.".

(2) This section applies as respects interest paid or discounts arising on or after 1 January 2009.