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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 13 March 2008 - onwards
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8. Amendment of section 122 (preferential loan arrangements) of Principal Act.

As respects the year of assessment 2008 and subsequent years of assessment, section 122 of the Principal Act is amended in the definition of "the specified rate" in subsection (1)(a) -

(a) by substituting "5.5 per cent" for "4.5 per cent" (inserted by the Finance Act 2007) in both places where it occurs, and

(b) by substituting "13 per cent" for "12 per cent" (inserted by the Finance Act 2007).

Comparing proposed amendment...