(1) The Principal Act is amended in section 198 -

(a) in subsection (1)(a) by substituting the following for the definition of "arrangements":

"'arrangements' means arrangements having the force of law by virtue of section 826(1) or arrangements made with the government of a territory which on completion of the procedures set out in section 826(1) will have the force of law;",

(b) in the definition of "relevant territory" -

(i) in paragraph (i) by inserting "or" after "the State,",

(ii) in paragraph (ii) by deleting "made, or" and inserting "made;", and

(iii) by deleting paragraph (iii),

(c) in subsection (1)(b)(i) by inserting "and have effect in accordance with the provisions of those arrangements" after "have been made", and

(d) by substituting the following for subsection (1)(c)(ii):

"(ii) a company shall not be chargeable to income tax in respect of interest paid by a relevant person (within the meaning of section 246) in the ordinary course of a trade or business carried on by that person -