7F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
(2)In subsection (5) of that section—
(a)for sub-paragraph (ii) of paragraph (b) there shall be substituted the following sub-paragraph—
“(ii)involved in carrying on (whether on his own account or as a partner, director or employee) the whole or any part of the trade carried on by the issuing company or a subsidiary, and”; and
(b)the words “and the reference to a trade previously carried on includes part of such a trade" shall cease to have effect.
Textual Amendments
F1Sch. 13 para. 7(1) repealed (11.5.2001 with effect in accordance with Sch. 15 para. 40(2) of the amending Act) by 2001 c. 9, ss. 63, 110, Sch. 33 Pt. 2(3) Note 6