(1) In this section -
"disregarded income" means -
(a) as respects distributions made out of specified income accruing to a company on or after the 28th day of March, 1996 -
(i) income from a qualifying patent which by virtue of section 234(2) has been disregarded for the purposes of income tax, and
(ii) income from a qualifying patent which by virtue of section 234(2) and section 76(6) has been disregarded for the purposes of corporation tax,
but does not include income (in this section referred to as "specified income") from a qualifying patent (within the meaning of section 234) which would not be income from a qualifying patent if paragraph (a) of the definition of "income from a qualifying patent" in section 234(1) had not been enacted, and
(b) as respects any other distributions -
(i) income which by virtue of section 234(2) has been disregarded for the purposes of income tax, and
(ii) income which by virtue of section 234(2) and section 76(6) has been disregarded for the purpose
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