Sch 15 para 46
(1) This paragraph applies for the purposes of Steps 1 and 2 of paragraph 44. (2) If the loss period is the first activation period, the reference to the “ unused transferred profits amount ” for a pre-acquisition accounting period is a reference to the transferred profits amount for that period. (3) If the loss period is a post-activation period, the reference to the “ unused transferred profits amount ” for a pre-acquisition accounting period is a reference to the amount equal to— (a) the transferred profits amount for the pre-acquisition accounting period, less (b) the total of the amounts applied for the pre-acquisition accounting period in accordance with paragraph 25, for the purposes of the application of that paragraph in relation to the first activation period or an earlier post-activation period.