59. Amendment of Part 10 (income tax and corporation tax: reliefs for renewal and improvement of certain urban areas, certain resort areas, and certain islands) of Principal Act.

(1) Part 10 of the Principal Act is amended -

(a) in section 344(1), in paragraph (c) of the definition of "qualifying period" by the substitution of "31 December 2001" for "31 December 2000", and "30 September 2001" for "30 September 2000", and

(b) in Chapter 8 -

(i) in section 372M(3)(b), by the substitution of "paragraph (b)" for "paragraph (i)",

(ii) in section 372P(1), by the substitution in paragraph (c) of the definition of "qualifying premises" of "175 square metres" for "140 square metres",

(iii) in section 372Q(1), by the substitution in paragraph (b) of the definition of "qualifying premises" of "175 square metres" for "150 square metres",

(iv) in section 372R(1), by the substitution in paragraph (b) of the definition of "qualifying premises" of "175 square metres" for "150 square metres", and

(v) in section 372T(1), by the insertion after paragraph (a) of the following:

"(aa) in respect of expenditure incurred on or after 6 April 2001 on the construction or refurbishment of

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