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(a)section 76(6) shall not apply to an IREF which is a company, and

“relevant cost” means the amount which would be allowable as a deduction for the purposes of the Capital Gains Tax Acts under section 552 subject to the modification that references in subsection (3) of that section to “borrowed money” shall be read as if they were references only to borrowed money that is third-party debt;

where the disposal of such asset would be a disposal of a chargeable asset for the purposes of capital gains tax or corporation tax on chargeable gains and would otherwise form part of relevant profits of the IREF which are not chargeable to tax under section 739C;

(6) (a) Section 739LA shall not apply to an accounting period to which this section applies.

(5) In respect of the charge to income tax imposed under this section and section 739LB—