Regulation 4 Amendments to the principal Regulations

In regulation 4A(1)^f1 for sub-paragraph (c) there shall be substituted—

“(c)

that within 42 days after receipt by the plan manager of either—

(i)

any amount of the cash subscription to the plan in any year, or

(ii)

cash by way of proceeds in respect of the sale of any shares held under the plan, the whole or substantially the whole of that amount or, where cash is received by way of proceeds of sale, of the cash then held under the plan, shall be invested in shares which are qualifying investments for single company plans within the meaning of regulation 6B(2);”.