Finance Act 1985

3 (1) In section 88, in each of subsections (1) to (5) and (7) and (8) for the word " securities " (or " Securities ") where it first occurs there shall be substituted " relevant securities " (or " Relevant securities").

(2) The following provisions of that section shall be omitted—

(a) in subsection (1) the words "and section 89 below" and " section 89 below " ; and

(b) subsection (5A).

(3) In subsection (9) of that section, for the words from " securities ", where that word first occurs, to the end of paragraph (b) there shall be substituted

• “" relevant securities " means—

  (a)

  securities, within the meaning of Chapter IV of Part II of the Finance Act 1985 ;

  (b)

  deep discount securities, within the meaning of section 36 of the [1984 c. 43.] Finance Act 1984 ; and

  (c)

  securities which are, or have at any time been, material interests in a non-qualifying offshore fund, within the meaning of Chapter VII of Part II of that Act”.