Chapter 1 of Part 7 of the Principal Act is amended -

(a) in section 207 -

(i) in subsection (1) -

(I) in paragraph (a), by the substitution of "are applied to charitable purposes only and provided the said application occurs before the cut-off point specified in subsection (1A)(a)(i)" for "are applied to charitable purposes only",

(II) in paragraph (b), by the substitution of "are applied to charitable purposes only and provided the said application occurs before the cut-off point specified in subsection (1A)(a)(ii)" for "are applied to charitable purposes only", and

(III) in paragraph (c), by the substitution of "are applied to those purposes and provided the said application occurs before the cut-off point specified in subsection (1A)(a)(iii)" for "are applied to those purposes",

and

(ii) by the insertion of the following subsection after subsection (1):

"(1A)