12U.K.In paragraph 40 (entitlement to claim)—
(a)in sub-paragraph (2), for paragraph (a) substitute—
“(a)the funded trade has been carried on for four months by no person other than the issuing company or a qualifying 90% subsidiary of that company, disregarding—
(i)any time spent preparing to carry on that trade, and
(ii)any person required to be disregarded in accordance with sub-paragraph (2A) or (2B), and”,
(b)after sub-paragraph (2) insert—
“(2A)At any time when the funded trade is carried on by the partners in a partnership of which the issuing company, or a qualifying 90% subsidiary of that company, is a member, there shall be disregarded for the purposes of sub-paragraph (2)(a) any other members of the partnership at that time.
(2B)At any time when the funded trade is carried on by the parties to a joint venture to which the issuing company, or a qualifying 90% subsidiary of that company, is a party, there shall be disregarded for the purposes of sub-paragraph (2)(a) any other parties to the joint venture at that time.”,
(c)for sub-paragraph (5)(a) substitute—
“(a)by reason only of the issuing company or any other company being wound up or dissolved without winding up, the funded trade is carried on as mentioned in sub-paragraph (2)(a) for a period shorter than four months, and”,
(d)in sub-paragraph (5)(b), for “was”, in each place, substitute “ is ”,
(e)for sub-paragraph (6)(a) substitute—
“(a)by reason only of anything done as a consequence of the issuing company or any other company being in administration or receivership, the funded trade is carried on as mentioned in sub-paragraph (2)(a) for a period shorter than four months, and”,
(f)in sub-paragraph (6)(b), after “company” insert “ concerned ”.