(1) Section 17 (as amended by section 57 of the Finance Act, 1994) of the Finance Act, 1993, is hereby amended -
(a) by the insertion after the proviso to paragraph (b) of subsection (2) of the following additional proviso to that paragraph:
"Provided also that in computing profits for the purposes of the foregoing provisions of this paragraph, subsection (1A) of section 13 shall apply as if the rate per cent. of capital gains tax specified in subsection (3) of section 3 of the Capital Gains Tax Act, 1975, were the rate per cent. of corporation tax specified in paragraph (b) of subsection (1) of section 1.",
(b) by the insertion after paragraph (d) of subsection (4) of the following paragraph:
"(e) Where in a chargeable period an undertaking for collective investment incurs a loss on the disposal (hereafter in this paragraph referred to as the ‘first-mentioned disposal’) of an asset the gain or loss in respect of a deemed disposal of which was included in a net amount to which