SCHEDULE 4 Transitional provisions

Part 1 Transitional provisions relating to Schedule 1

3 Section 832 - distributions
(1) This paragraph applies to a company that is an investment company within the meaning of section 833 of the Act immediately before exit day.
(2) For the period of one year beginning on exit day—
(a) the amendment made by paragraph 12 of Schedule 1 does not apply to the company;
(b) section 832 of the Act applies to the company as if subsection (5)(a) was substituted by—

“(a) the company’s shares must be shares admitted to trading on a UK regulated market or an EU regulated market”

.