Document ID: chunk:federal_register_of_legislation:C2004A02159:body:0:p18
Version: federal_register_of_legislation:C2004A02159
Segment Type: other
Provision Reference: 
Character Range: 40653–43218

1, there is in operation, at a particular time, a provision of an Act declaring that relevant year of income to be a prescribed year of income for the purposes of section 9 of the Income Tax (Rates) Act 1976, this Act shall be deemed to have effect, in relation to any assessment made at that time in relation to that relevant year of income, as if for each relevant amount there were deemed to be substituted an amount calculated by multiplying—
          (a) in a case to which paragraph (b) does not apply—the relevant amount; or
          (b) if, by virtue of the application of this section, this Act was deemed to have effect in relation to the year of income that last preceded the relevant year of income concerned as if another amount were deemed to be substituted for the relevant amount—the amount that, for the purposes of this Act, was deemed to be substituted for the relevant amount by the application of this section in relation to the year of income that last preceded the relevant year of income concerned,
    by the factor ascertained in accordance with sub-section (3) of section 9 of the Income Tax (Rates) Act 1976 in relation to the relevant year of income concerned or, where a lesser factor is prescribed by regulations made under sub-section (4) of section 9 of that last-mentioned Act in relation to the relevant year of income concerned, by that lesser factor.
    "(3a) Where—
          (a) in relation to a relevant year of income, this Act is not deemed, at a particular time, to have effect in accordance with sub-section (3); and

          (b) by virtue of the application of this section, this Act was deemed to have effect in relation to the year of income that last preceded the relevant year of income as if another amount were deemed to be substituted for a relevant amount,
    this Act shall be deemed to have effect, in relation to any assessment made at that time in relation to the relevant year of income, as if for that relevant amount there were deemed to be substituted the amount that was deemed to be substituted for that relevant amount by the application of this section in relation to the year of income that last preceded the relevant year of income.
    "(3b) For the purposes of the application of sub-section (3) or (3a) in relation to a relevant year of income, a reference in that sub-section to the amount that was deemed to be substituted for a relevant amount by the application of this section in relation to the year of income that last preceded the relevant year of income shall, in a case where, in