Paragraph 7

(1)

The sixth transaction is the transfer by the reporting body or a company (whether or not it is resident in the United Kingdom) of shares or debentures of the foreign subsidiary to a person not connected with the reporting body.

(2)

The conditions are—

(a)

that the transfer—

(i)

is at market value for consideration paid to the transferor company, and

(ii)

is not to a nominee or trustee for a person who is connected with the reporting body;

(b)

that no arrangements exist as a consequence of which—

(i)

the reporting body, or

(ii)

a nominee or trustee for the reporting body, or

(iii)

a person connected with the reporting body, or

(iv)

a nominee or trustee for a person connected with the reporting body,

is or may become entitled to the shares or debentures transferred or to any of them or to any interest in them or in any of them.