Regulation 3 Amendments to regulation 2

in the definition of “accounting date” at the end add “of the Income and Corporation Taxes Act 1988”;

in the definition of “the Board” for “of Inland Revenue” substitute “for Her Majesty’s Revenue and Customs”;

in the definition of “eligible shares” for “paragraph 6(1) of Schedule 15B” substitute “section 273(1)”;

in the definition of “full approval” for “subsection (2) of section 842AA” substitute “section 274”;

omit the definition of “the Management Act”;

in the definition of “period of account” for “834(1)” substitute “989”;

in the definition of “provisional approval” for “subsection (4) of section 842AA” substitute “section 275(2)”;

in the definition of “qualifying holding” for “Schedule 28B” substitute “Chapter 4 of Part 6”;

in the definition of “trust company” for “842AA” substitute “259(1)”; and

at the appropriate places, insert—

• ““accounting period” shall be construed in accordance with section 12 of the Income and Corporation Taxes Act 1988;”,

• ““director” means a person appointed as a director of the trust company;”, and

• ““VCT approval” has the meaning it has in section 259(2);”.