The Income Tax Act, 1967, is hereby amended in accordance with the following provisions:
(a) in section 138 -
(i) in paragraph (a), by the substitution of "£5,000" for "£4,700" (inserted by the Finance Act, 1994),
(ii) in paragraph (b) (as amended by the Finance Act, 1988), by the substitution of "£3,000" and "£5,000", respectively, for "£2,850" and "£4,700" (inserted by the Finance Act, 1994), and
(iii) in paragraph (c), by the substitution of "£2,500" for "£2,350" (inserted by the Finance Act, 1994),
and
(b) in section 138A(2) (inserted by the Finance Act, 1985), by the substitution of "£2,000" and "£2,500", respectively, for "£1,850" and "£2,350" (inserted by the Finance Act, 1994).