(1) Section 477C of the Principal Act is amended -

(a) in subsection (1), by -

(i) the insertion of the following definition:

"‘affordable dwelling contribution’ shall be construed in accordance with section 12(2) of the Act of 2021;",

(ii) the substitution of the following definition for the definition of "loan-to-value ratio":

"‘loan-to-value ratio’ means -

(a) in the case of a contract referred to in subsection (3)(a) that was entered into before 11 October 2023, the amount of the qualifying loan as a proportion of the purchase value of the qualifying residence, and

(b) in all other cases, the amount that is the aggregate of -

(i) the amount of the qualifying loan, and

(ii) in the case of a qualifying residence, the amount of the affordable dwelling contribution, if any, in respect of the qualifying residence,

as a proportion of the purchase value of the qualifying residence or the self-build qualifying residence, as the case may be;",

and

(iii) in the definition of "qualifying period", the substitution of "2025" for "2024",