Section 127.

1. The Taxes Consolidation Act 1997 is amended in accordance with the following provisions:

(a) in section 21A -

(i) in subsection (1) by inserting the following after subsection (4):

"(4A) In subsection (4) 'income from the sale of goods', in relation to an accounting period in the course of a trade carried on by a company, means such income as would be 'the income from the sale of those goods' in such a period in the course of the trade for the purposes of a claim under section 448(2), if -

(i) the company had sufficient profits, and

(ii) the company made a claim for relief under this Part.",

and

(ii) in subsection (4)(a) by deleting "within the meaning of section 454",

(b) in section 243B -

(i) in subsection (1) by substituting the following for the definition of "charges on income paid for the purposes of the sale of goods":