(1) This section shall apply to a distribution (in this section referred to as a "relevant distribution") made before the 6th day of April, 1999, being a distribution made or deemed to have been made by a company for an accounting period wholly or in part out of -
(a) the company's income for the accounting period the corporation tax in respect of which has been reduced under Part IV of the Corporation Tax Act, 1976, or
(b) a distribution or distributions received by the company in the accounting period in respect of which the tax credit is determined in accordance with this section.
(a) Where a relevant distribution is made or is deemed for the purposes of this section to have been made by a company for an accounting period, the tax credit to which the recipient of the relevant distribution is entitled in respect of it shall be an amount arrived at by applying a fraction determined by the formula -
to the amount of the relevant distribution,
where -
A is an amount arrived at