Finance (Covid-19 and Miscellaneous Provisions) Act 2021

Amendment of section 114B of Act of 2010

11. Section 114B of the Act of 2010 is amended—

(a) in subsection (1)—

(i) in the definition of “Period 1”, by the substitution of the following paragraph for paragraph (b):

“(b) ending on 31 December 2021;”,

(ii) by the substitution of the following definition for the definition of “Period 2”:

“‘Period 2’, in relation to an accountable person, means the period beginning on 1 January 2022 and ending on 31 December 2022;”,

(iii) by the substitution of the following definition for the definition of “Period 3”:

“‘Period 3’, in relation to an accountable person, means the period beginning on 1 January 2023 and ending on the day on which the accountable person has discharged the Covid-19 liabilities in full.”,

and

(iv) by the deletion of the definition of “recommencement date”,

and

(b) by the deletion of subsection (15).