(1) Section 420B of the Principal Act is amended, in subsection (1), by substituting the following for the definition of "relevant corporation tax":
"'relevant corporation tax', in relation to an accounting period of a company, means the corporation tax which would be chargeable on the company for the accounting period apart from -
(a) this section and sections 239, 241, 440 and 441, and
(b) where the company carries on a life business (within the meaning of section 706 of the Principal Act), any corporation tax which would be attributable to policyholders' profits;".
(2) This section shall apply as respects any claim for relief made on or after 4 February 2004.