s 12 Reduction in respect of unrelieved group ring fence profits
(1) This paragraph applies if there is an amount of unrelieved group ring fence profits for a pre-commencement period. (2) For the purpose of allocating qualifying E&A expenditure to the pool for that period— (a) find so much (if any) of amount E for that period as remains after any reduction falling to be made under paragraph 11, and (b) reduce that amount (but not below nil) by setting against it a sum equal to the aggregate of the amounts of unrelieved group ring fence profits for the period.