Regulation 7 Amendments to the principal Regulations

in paragraph (1) for the words“in accordance with the condition in paragraph (2)(b)” there shall be substituted the words“with the proceeds of sale of those investments”;

for paragraph (2)(b) there shall be substituted—

“(b)

that the total amount of the cash subscription to the plan forthe year ending 5th April 1991 which was invested in non-qualifyinginvestments on that date did not exceed £900;

(c)

that the total amount of the cash subscription to the plan investedin authorised unit trusts, funds of funds and investment trusts in anyyear beginning after 5th April 1991 does not exceed one quarter of thesubscription limit.”