Paragraph 232
In section 125(6) (shares in close company transferring assets at an undervalue)—
(a)
in the definition of “associate” for “section 417 of the Taxes Act” substitute “ section 448 of CTA 2010 ”, and
(b)
in the definition of “participator” for “section 417 of the Taxes Act” substitute “ section 454 of CTA 2010 ”.