Paragraph 383
(1)
Amend section 68 (meaning of “material interest” in a company) as follows.
(2)
In subsection (2) for “such associates” substitute “ other such associates ”.
(3)
In subsection (3) for “such associates” substitute “ other such associates ”.
(4)
In subsection (4)—
(a)
in the definition of “associate”—
(i)
for “section 417(3) of ICTA” substitute “ section 448 of CTA 2010 ”,
(ii)
for “section 417(3)”, in the second place, substitute “ section 448(1) ”, and
(b)
in the definition of “participator” for “section 417(1) of ICTA” substitute “ section 454 of CTA 2010 ”.