for subsection (8)(a) substitute—

“(a)

manages holdings for its parent undertaking or a controlled undertaking of the parent undertaking;”;

for subsection (8)(c)(ii) substitute—

“(ii)

a controlled undertaking of the parent undertaking.”;

after subsection (9) insert—

“(10)

For the purposes of this section, an undertaking is a controlled undertaking of the parent undertaking if it is controlled by the parent undertaking; and for this purpose the question of whether one undertaking controls another is to be determined in accordance with section 89J(4) and (5).”.