20(1)In paragraph 19 (1) (interpretation)—U.K.
(a)before the definition of “arrangements” insert—
““51 per cent. subsidiary” has the meaning given by section 838 of the Taxes Act;”,
(b)after the definition of “associate” insert—
““bonus shares” means shares which are issued otherwise than for payment (whether in cash or otherwise);”.
(2)The amendment made by sub-paragraph (1)(a) has effect in relation to shares issued on or after 17th March 2004, except that, for the purposes of the amendment made by sub-paragraph (1)(b) of paragraph 15 of this Schedule, it has effect in accordance with sub-paragraphs (2) and (3) of that paragraph.