70(1)Section 199 (exploration or exploitation assets: deemed disposals) is amended as follows.
(2)In subsection (2), for “in respect of whom the residence condition (see section 2(1A)) is not met” substitute “who is not UK resident for a tax year (as determined for the purposes of Chapter 1 of Part 1)”.
(3)In subsection (6), for paragraphs (a) and (b) substitute “would be chargeable to capital gains tax or corporation tax as a result of section 1A(3)(a) or 2B(3)”.