(1) The Principal Act is amended in section 79C -

(a) in subsection (1), in the definition of "relevant bank deposit", by substituting "the currency of the State" for "Irish currency", and

(b) by substituting the following for subsection (3):

"(3) An amount determined by the formula -

where -

A is the net foreign exchange gain which is credited in the profit and loss account of a relevant holding company, as reduced by so much of any loss under section 383 as is attributable to a net foreign exchange loss and which has not been deducted from any other amount of income,

B is the rate referred to in section 21A(3) (a), and

C is the rate referred to in section 28(3),

shall be income chargeable under Case IV of Schedule D.".

(2) This section applies in respect of accounting periods ending on or after 1 January 2013.