AVERAGE BASE PERIOD NET INCOME—NEW CORPORATION.

SEC. 512. AVERAGE BASE PERIOD NET INCOME—NEW CORPORATION. Section 445 (c) (relating to total assets for first three years of new corporation) is hereby amended by adding at the end thereof the following new sentence: “For the purpose of this subsection, the net capital addition or reduction shall be computed without regard to the limitation to 75 per centum provided in section 435 (g) (3) (C) and section 435 (g) (4) (C) and (E).”