Section 61 | Non-active partners

(1)In section 103B(2) of ITA 2007 (meaning of “non-active partner” for purposes of provisions restricting trade loss relief), for “carried on for the purposes of the trade” substitute

(a)on a commercial basis, and

(b)with a view to the realisation of profits as a result of the activities.

(2)The amendment made by subsection (1) has effect in relation to relevant periods ending on or after 12 March 2008.