2

Subsection (3) applies if the company giving the notice—

a

does not expect to meet condition D in section 528 on the first day of accounting period 1, merely because the company's shares have not been listed and dealt with on a recognised stock exchange within the preceding 12 months, but

b

reasonably expects to meet that condition throughout the rest of accounting period 1 in reliance on section 446(1)(b).

3

If this subsection applies—

a

subsection (1)(c) does not apply, but

b

the notice must be accompanied by a statement by the company containing the assertions specified in subsection (4).

4

Those assertions are—

a

that conditions A, B, E and F in section 528 are reasonably expected to be met in relation to the company throughout accounting period 1,

b

that condition C in that section is reasonably expected to be met in relation to the company for at least a part of the first day of accounting period 1, and throughout the remainder of the period, and

c

that condition D in that section is reasonably expected to be met in relation to the company throughout all of accounting period 1 apart from the first day.

5

For the meaning of “accounting period 1”, see section 609.