Paragraph 11

In paragraph 36 (requirement as to money raised)—

(a)

in sub-paragraph (1B)(b)—

(i)

for “relevant trade was not being carried on” substitute “ issuing company or a qualifying 90% subsidiary of that company had not begun to carry on the relevant trade ”,

(ii)

for “subsidiary” substitute “ qualifying 90% subsidiary of that company ”,

(b)

in sub-paragraphs (4)(b)(ii) and (5)(b), for “qualifying subsidiary” substitute “ qualifying 90% subsidiary ”.