10(1)Section 174 (the purpose of the issue requirement) is amended as follows.U.K.
(2)The existing text becomes subsection (1).
(3)In that subsection, after “activity” insert “ so as to promote business growth and development ”.
(4)After that subsection insert—
“(2)For this purpose “business growth and development” means the growth and development of—
(a)if the issuing company is a single company, the business of that company, and
(b)if the issuing company is a parent company, what would be the business of the group if the activities of the group companies taken together were regarded as one business.”