Section 472B of the Principal Act is amended -

(a) in subsection (4) -

(i) as respects the year of assessment 2001, by the substitution of "125 days" and "£3,700" for "169 days" and "£5,000", respectively, and

(ii) as respects the year of assessment 2002 and subsequent years of assessment, by the substitution of "€6,350" for "£5,000",

and

(b) by the insertion after subsection (4) of the following:

"(4A)

(a) Notwithstanding subsection (4), but subject to paragraph (b) -

(i) as respects the year of assessment 2001, the reference in that subsection to '125 days' shall be construed as a reference to '119 days', and

(ii) as respects the year of assessment 2002 and subsequent years of assessment, the reference in that subsection to '169 days' shall be construed as a reference to '161 days'.

(b) Paragraph (a) shall come into operation on such day as the Minister for Finance may by order appoint.".