(1) This Article applies if a QFC Entity claims a tax credit under this Part.

(2) For the purposes of Article 32, a QFC Entity's tax loss for an Accounting Period, which may be set off against any Chargeable Profits of a second QFC Entity by way of Group Relief, is to be treated as reduced by the amount of the Reimbursable Tax Loss for that Accounting Period in respect of which the QFC Entity has received payment of a tax credit under this Part.

(3) For the purposes of Article 28, a QFC Entity's tax loss for an Accounting Period, which shall be set off against any Chargeable Profits generated by that QFC Entity in succeeding Accounting Periods, is to be treated as reduced by the amount of the Reimbursable Tax Loss for that Accounting Period in respect of which the QFC Entity has received payment of a tax credit under this Part.