Fourth Shedule, Part I Application of sections 6(3), 13(1B), 182 and 194 of Corporation Tax Act, 1976

Section 54.

1. Section 6(3) and the proviso to section 13(1B) of the Corporation Tax Act, 1976, shall have effect, as respects accounting periods, ending on or after the 1st day of April, 1995, as if -

(a) the period beginning on the 1st day of January, 1994, and ending on the 31st day of March, 1995, and

(b) the period beginning on the 1st day of April, 1995, and ending on the 31st day of December, 1996,

were each a financial year.

2.

(1) For the purposes of subparagraph (3) and of sections 182 and 184 of the Corporation Tax Act, 1976, where an accounting period begins before the 1st day of April, 1995, and ends on or after that day, it shall be divided into one part, beginning on the day on which the accounting period begins and ending on the 31st day of March, 1995, and another part beginning on the 1st day of April, 1995, and ending on the day on which the accounting period ends, and both parts shall be treated as if they were separate accounting periods.

(2) Where, under subp