Paragraph 2

(1)

Section 274 (requirements for the giving of approval) is amended as follows.

(2)

In subsection (2), in the list of conditions, at the end insert—

“
The investment limits condition The company has not made and will not make an investment, in the relevant period, in a company which breaches the permitted investment limits
”

(3)

In subsection (3), omit the “and” at the end of paragraph (d), and after paragraph (e) insert

“, and
(f)
the investment limits condition by section 280B.”