Cap. 123 Art. 22Definitions.

For the purpose of the group relief provisions:

(a) a reference to "allowable loss" or "allowable losses"

shall be construed as a reference to the loss or losses referred to in article 14(1)(g), to the extent that they are incurred in the year preceding the year of assessment and are not unrelieved losses carried forward from previous years; and

(b) references to "total income" shall have the meaning assigned to it by article 2 but shall be computed before any deduction is made in respect of group relief.