Clause 3

by deleting subsection (1) and substituting the following subsection: —“(1) Where a company derives income which is subject to tax in accordance with regulations prescribed under section 43A, 43C or 43D, the following provisions shall have effect.”;

by deleting the words “or 43C” wherever they appear in subsections (2) and (8)(a) and substituting in each case the words “, 43C or 43D”;

by deleting the words “financial institution or insurance” wherever they appear in subsections (2), (3), (4), (6), (8)(c) and (8)(d);

by deleting the words “financial institution or an insurance” in subsections (7) and (8)(a); and

by deleting the words “paid by financial institutions and insurance companies” in the marginal note.