In paragraph 5 of Schedule 19AA to that Act (designation of certain assets of overseas life assurance fund), for sub-paragraph (7) there shall be substituted the following sub-paragraph—

“(7)

For the purposes of sub-paragraph (5)(d) above, the reference to securities issued with a FOTRA condition is a reference to any FOTRA security within the meaning of section 154 of the Finance Act 1996.”