In section 12 of OTA 1975 (interpretation of Part 1), the definition of "participator" is amended as follows.
In the words before paragraph (a), after "chargeable period" insert ." ("the relevant chargeable period") "
In paragraphs (a), (b) and (c), for "that chargeable period" substitute ." the relevant chargeable period "
At the end of paragraph (c) insert
The amendments made by this section have effect in relation to expenditure incurred after 30 June 2008.