Paragraph 12

in subsections (1) and (2) for “250” substitute “ the permitted limit ”, and

after subsection (3) insert—

“(3A)

The permitted limit” means—

(a)

if the relevant company is a knowledge-intensive company at the time the relevant holding is issued (see section 331A), 500, and

(b)

in any other case, 250.

(3B)

The Treasury may by regulations amend subsection (3A)(a) or (b) by substituting a different number for the number for the time being specified there.”