7U.K.In section 259CB (hybrid or otherwise impermissible deduction/non-inclusion mismatches and their extent)—
(a)after subsection (3) (as substituted by paragraph 3) insert—
“(3A)So far as the excess arises by reason of an interest distribution designation, it is to be taken not to arise by reason of the terms, or any other feature, of the financial instrument (whether or not it would have arisen by reason of the terms, or any other feature, of the financial instrument regardless of that designation).”, and
(b)in subsection (4), in the opening words, for “that and subsection” substitute “ subsections (3), (3A) and ”.