7.—(1) Section 246 of the 1985 Act (exemptions for small and medium-sized companies)(1) is amended as follows.
(2) In subsections (1A) and (1B)—
(a)for “immediately above the signature” substitute “above the signature”, and
(b)for “that advantage has been taken” substitute “to the effect that advantage has been taken”.
Section 246 was substituted by section 13(1) of the Companies Act 1989 and amended by regulation 4 of S.I. 1992/2452.