The section defines a claimant company's " corresponding accounting period " as one which falls wholly or partly within the accounting period of the surrendering company—that is the company which is surrendering loss—and provides for an appropriate restriction by apportionment on a time basis where periods do not coincide.
SECTION 118.
Question proposed: " That section 118 stand part of the Bill."
I always distrust the situation where the draftsman has to resort to algebra.
Not equations.
Most of the things that I see in these Bills are not equations; they are inequalities.
The old trouble about quadratic equations was that they always took longer than anything else but they always had to work and you knew that if they did not work out you were wrong.
Question put and agreed to.