As respects the year of assessment 2010 and subsequent years of assessment, section 244 of the Principal Act is amended -

(a) in subsection (1)(a) by inserting "taken out on or after 1 January 2004 and on or before 31 December 2011" after "qualifying loan" in the definition of "relievable interest",

(b) by substituting the following for paragraph (b) of subsection (1A):

"(b) Notwithstanding paragraph (a), this section shall continue to apply -

(i) for the year of assessment 2010 and subsequent years of assessment up to and including the year of assessment 2017 in respect of qualifying interest paid in respect of a qualifying loan taken out on or after 1 January 2004 and on or before 31 December 2011, and

(ii) for the year of assessment 2012 and subsequent years of assessment up to and including the year of assessment 2017 in respect of qualifying interest paid in respect of a qualifying loan taken out on or after 1 January 2012 and on or before 31 December 2012.",

and

(c) by substituting the following for subsection (2)(a):

"(2)