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(1)This section applies if—
(a)B or an associate of B’s is (apart from this section) to be treated by virtue of section 552(2) as having been the beneficial owner of a percentage of the ordinary share capital of the company as a result of receiving the relevant payment from the trustees of an employment benefit trust, and
(b)B or an associate of B’s has, during the period of 12 months ending with the payment date, received one or more payments from the trustees of any other employee benefit trust or trusts connected with the company.
(2)In such a case section 552 applies to B or (as the case may be) the associate mentioned in subsection (1)(a) as if B or the associate had received—
(a)any payment from the trustees of a trust as mentioned in subsection (1)(b), or
(b)where more than one payment has been received from the trustees of a trust, the last of the payments,
on the payment date.
(3)B or the associate is accordingly to be treated for the purposes of the listed provision as having been the beneficial owner on the payment date of both—
(a)the percentage of the ordinary share capital of the company mentioned in subsection (1)(a), and
(b)the appropriate percentage of that share capital as determined in accordance with subsection (2).
(4)This is in addition to any percentage of that share capital of which B or the associate was actually the beneficial owner on that date.
(5)For the purposes of this section a trust is “connected with” the company if, at any time during the period of 3 years ending with the payment date, the property subject to the trust consisted of or included any part of the ordinary share capital of the company.
(6)In this section “the payment date” and “the relevant payment” have the meaning indicated in section 552(1).