(1) In this section -
'adjusted property financing costs' means the property financing costs less any amount of income referred to in subsection (2)(b);
'annual IREF profits' means the profits, gains or losses of an IREF business as shown in the income statement of the IREF excluding -
(a) any realised profits, gains or losses in relation to the disposal of an asset, and
(b) any unrealised profits, gains or losses in relation to an asset,
where the disposal of such asset would be a disposal of a chargeable asset for the purposes of capital gains tax or corporation tax on chargeable gains and would otherwise form part of relevant profits of the IREF which are not chargeable to tax under section 739C;
'property financing costs' means costs, being costs of debt finance or finance leases, which are taken into account in arriving at the profits of an IREF, including amounts in respect of -
(a) interest, discounts, premiums, or net swap or hedging costs, and
(b) fees or other expenses associ
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