Regulation 3 Amendments to the principal Regulations

after the definition of “the Board” there shall be inserted—

• ““company” means any body corporate having a share capital other than—

  1. (a)

     a building society within the meaning of the Building Societies Act 1986^f2,

  2. (b)

     an incorporated friendly society established under the Friendly Societies Act 1992^f3,

  3. (c)

     an industrial and provident society registered under the Industrial and Provident Societies Act 1965^f4, and

  4. (d)

     a body corporate which is a 51 per cent. subsidiary of any such building society, incorporated friendly society or industrial and provident society;

  “51 per cent. subsidiary” and “75 per cent. subsidiary” have the meaning given by section 838 of the Taxes Act;”

after the definition of “savings-related share option scheme” there shall be inserted—

• ““security” means any loan stock or similar security of a company whether secured or unsecured;”

after the definition of “single company plan” there shall be inserted—

• ““venture capital trust” has the meaning given by section 842AA of the Taxes Act^f5;.”