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(1)(a) In this section “relevant loss” means a loss in a trade or profession (including any amount in respect of allowances which, pursuant to section 392, is to be treated as a loss for the purposes of section 381) but does not include a loss which arises from—

(2) (a) Subject to paragraphs (b) and (c), where a person carries on a trade or profession in a non-active capacity during a year of assessment then for the purposes of section 381, the amount of any relevant loss sustained by that person in that trade or profession in that year of assessment shall be the actual amount of the loss so sustained, or €31,750, whichever is the lower.

(c) Where a person carries on 2 or more trades or professions to which this subsection applies, then for the purposes of section 381, the aggregate of the amount of the losses sustained by that person in those trades or professions in any year of assessment shall be the aggregate of the actual amount of the losses so sustained, or €31,750, whichever is the lower.

(1)(a) In this section “relevant loss” means a loss in a trade or profession (including any amount in respect of allowances which, pursuant to section 392, is to be treated as a loss for the purposes of section 381) but does not include a loss which arises from—

(v) any amount in respect of specified capital allowances, within the meaning of section 531AAE, which pursuant to section 392 is to be treated as a loss.

(iv) any amount in respect of qualifying expenditure which by virtue of section 482(2) is to be treated as a loss, or

(v) any amount in respect of specified capital allowances, within the meaning of section 531AAE, which pursuant to section 392 is to be treated as a loss.