(1) Schedule 18A to the Principal Act is amended in paragraph 1 -

(a) in subparagraph (3) by the substitution of "at the time immediately before the relevant event occurred in relation to it by a company which is or was" for "by a company at the time immediately before the company became",

(b) by the insertion after subparagraph (3) of the following:

"(3A)

(a) In this paragraph references to the relevant event occurring in relation to a company -

(i) in a case in which -

(I) the company was resident in the State at the time when it became a member of the relevant group, or

(II) the asset was a chargeable asset in relation to the company at that time,

are references to the company becoming a member of that group;

(ii) in any other case, are references to whichever is the first of -

(I) the company becoming resident in the State, or

(II) the asset becoming a chargeable asset in relation to the company.