loss deduction provided in section 172 shall not be allowed. (B) The deductions for corporations provided in part VIII (except section 248) in subchapter B (section 241 and following, relating to the deduction for dividends received, etc.) shall not be allowed. (C) The deduction for dividends paid (as defined in section 561) shall be allowed. (D) The taxable income shall be computed without regard to section 443(b) (relating to computation of tax on change of annual accounting period). (E) The taxable income shall be computed without regard to section 454(b) (relating to short-term obligations issued on a discount basis) if the company so elects in a manner prescribed by the Secretary. (F) There shall be deducted an amount equal to the tax imposed by subsection (d)(2) of section 860M for the taxable year. (G) There will be allowed as a deduction loss adjustment expenses and expenses of— (i) modeling firms, claims reviewers, loss reserve specialists, attorneys, accountants, actuaries, indenture trustees (including reinsurance trustees and paying agents), independent directors, administrators of the catastrophic risk transfer company, rating agencies of any securities issued by the catastrophic risk transfer company, reset and calculation agents, reporting agencies, data providers, model escrow agents, securities listings, and securities listing agents, and (ii) other professionals or service providers, or other out-of-pocket costs incurred with issuing securities, reasonably related thereto. (3) Section 311(b) not to apply to certain distributions Section 311(b) shall not apply to any distribution by a catastrophic risk transfer company to which this part applies, if such distribution is in redemption of its stock or securities upon the demand of the holder. (4) Time certain dividends taken into account For purposes of this title, any dividend declared by a catastrophic risk transfer company during any calendar year and payable to security holders of record on a specified date in such a year shall be deemed— (A)