4U.K.In paragraph 6 (requirements as to the money raised by the investment in question), after sub-paragraph (2) there shall be inserted the following sub-paragraphs—
“(2A)Where the relevant company is a company falling within paragraph 3(2)(aa) above, the requirements of this paragraph are not satisfied unless—
(a)the trader company is a company in relation to which the requirements of paragraph 3(2)(a) above are satisfied, or
(b)the trader company is a company in relation to which those requirements would be satisfied if its purposes were disregarded to the extent that they consist in the carrying on of activities such as are mentioned in paragraph 3(9)(a) and (b) and (10)(a) above, or
(c)the trader company is a qualifying subsidiary of the relevant company and falls within sub-paragraph (2B) below.
(2B)A qualifying subsidiary of the relevant company falls within this sub-paragraph if—
(a)apart from purposes capable of having no significant effect (other than in relation to incidental matters) on the extent of its activities, it exists wholly for the purpose of carrying on activities such as are mentioned in paragraph 3(9)(b) above; or
(b)it has no profits for the purposes of corporation tax and no part of its business consists in the making of investments.
(2C)In sub-paragraph (2A) above “the trader company” means the company (whether the relevant company or a qualifying subsidiary of the relevant company) carrying on, or preparing to carry on, the trade by reference to which the requirements of paragraph 3(3) above are satisfied.”