5(1)In Part II of Schedule 25 (exempt activities) amend paragraph 6 as follows.
(2)In sub-paragraph (2)(b) (company mainly engaged in wholesale, distributive or financial business: percentage of gross trading receipts from connected persons etc)—
(a)for “or financial” substitute “financial or service”; and
(b)for the words from “connected” to the end substitute “persons falling within sub-paragraph (2A) below.”
(3)After sub-paragraph (2) insert—
“(2A)Those persons are—
(a)persons who are connected or associated with the company;
(b)persons who have a 25 per cent assessable interest in the company in the case of the accounting period in question; and
(c)if the company is a controlled foreign company in that accounting period by virtue of subsection (1A) of section 747, persons who are connected or associated with either or both of the two persons mentioned in that subsection.”