Limitation period for orders under review provision: later of assessment-year term or one year after assessment or reassessment. The substitution prescribes that no order under the review provision may be made after the later of (a) the assessment-year-based period - four years for assessment years commencing on or before 1 April 1974 and two years for those commencing after that date - and (b) one year from the end of the financial year in which the assessment or reassessment of the relevant previous year's profits and gains is made; the limitation does not apply where the company has applied to the Board under the statutory referral procedure.