Paragraph 8

in sub-paragraph (1)(b) for “the first and second conditions” substitute “ all the conditions ”, and

after sub-paragraph (5) insert—

“(5A)

The third condition is that the undertaking or part acquired by the acquiring company has as its main activity the carrying on of a trade that does not consist wholly or mainly of dealing in chargeable interests.

In this sub-paragraph “trade” has the same meaning as in the Taxes Act 1988.”