Part 12 of the Principal Act is amended by substituting the following for Chapter 4A (inserted by section 23 of the Finance Act 2011):

"Chapter 4A Termination of carry forward of certain losses

409F. Interpretation and general (Chapter 4A).

(1) This Chapter applies notwithstanding any other provision of the Tax Acts.

(2) In this Chapter -

'active partner' has the same meaning as in section 409A;

'active trader' has the same meaning as in section 409D;

'area-based capital allowance' means any allowance, or part of such allowance, made under Chapter 1 of Part 9 as that Chapter is applied -

(a) by section 323, 331, 332, 341, 342, 343, 344, 352, 353, 372C, 372D, 372M, 372N, 372V, 372W, 372AC or 372AD for a chargeable period, or

(b) by virtue of paragraph 11 of Schedule 32 for a chargeable period,

including any such allowance, or part of any such allowance, made for a previous chargeable period and carried forward from that previous chargeable period in accordance with Part 9;

'balancing allowance' and 'balancing charge' mean any allowance or charge, as the case may be, made under section 274;

'capital allowance' means any allowance, or part of such allowance, specified in the definition of 'area-based capital allowance' or 'specified capital allowance';