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(ii)sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if section 411(1)(c) were deleted,

(10) (a) Notwithstanding subsection (9)(a), where, in any accounting period, a qualified company incurred a loss (in this subsection referred to as a “relevant loss”) on qualified foreign trading activities and that loss formed, or formed part of, the profits or gains or losses of the company which were disregarded for the purposes of the Corporation Tax Acts by virtue of subsection (6), then the company may claim relief under section 396(1) in accordance with this subsection in respect of that loss for accounting periods beginning on or after 1 January 2011.

(c) Where a qualified company makes a claim under paragraph (a) in respect of a relevant loss then, subject to paragraph (b), the company shall be entitled to such relief under section 396(1) for accounting periods beginning on or after 1 January 2011 as it would have been entitled to had the profits or gains or losses from qualified foreign trading activities carried on through the branch or agency not been disregarded for the purposes of the Corporation Tax Acts by virtue of subsection (6) and had relief been granted in respect of the relevant loss under section 396(1), but not any other provision of the Corporation Tax Acts, for accounting periods ending before that date.

(c) Where a qualified company makes a claim under paragraph (a) in respect of a relevant loss then, subject to paragraph (b), the company shall be entitled to such relief under section 396(1) for accounting periods beginning on or after 1 January 2011 as it would have been entitled to had the profits or gains or losses from qualified foreign trading activities carried on through the branch or agency not been disregarded for the purposes of the Corporation Tax Acts by virtue of subsection (6) and had relief been granted in respect of the relevant loss under section 396(1), but not any other provision of the Corporation Tax Acts, for accounting periods ending before that date.

(ii)sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if section 411(1)(c) were deleted,

(ii)sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if section 411(1)(c) were deleted,

(ii)sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if section 411(1)(c) were deleted,

(ii)sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if section 411(1)(c) were deleted,

(7) A gain shall not be a chargeable gain for the purposes of the Capital Gains Tax Acts if it accrues to a qualified company on the disposal of an asset, other than an asset specified in paragraphs (a) to (d) of section 980(2), used wholly and exclusively for the purposes of a trade carried on, or treated under subsection (1)(b)(iii) as carried on, by a qualified company which consists of qualified foreign trading activities.