Chapter 1A of Part 6 of the Principal Act is amended by the insertion of the following section after section 280H:
"280I. Treatment of qualifying conditions in respect of certain financial years
(1) Where a monetary amount referred to in a relevant provision, in respect of the turnover or balance sheet total of a company or group, is amended by the adjustment of size regulations, a company or group shall, for the purposes of satisfying qualifying conditions under a relevant provision, treat all the amendments as applying either (as the company elects) to -
(a) each financial year beginning on or after 1 January 2024, or
(b) each financial year beginning on or after 1 January 2023, in accordance with Article 2(1) of the Commission Delegated Directive (EU) 2023/2775 of 17 October 2023 [OJ L, 2023/2775, 21.12.2023].
(2) The relevant provisions shall apply to the financial year of a company or group in accordance with the election of the company or group under subsection (1).
(3) In this s
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