Section 442 | Amounts of qualifying infrastructure company left out of account for other purposes

(1)This section applies where a company is a qualifying infrastructure company throughout a relevant accounting period.

(2)In calculating—

(a)the adjusted net group-interest expense of the worldwide group for the period of account concerned, or

(b)the qualifying net group-interest expense of the worldwide group for the period of account concerned,

amounts that are exempt amounts of the company under section 438, or are treated as mentioned in section 440, are to be left out of account.

(3)For the purposes of this Part the group EBITDA of the worldwide group for the period of account concerned is to be calculated as if the group did not include the company in respect of the relevant accounting period.