1(1)Subject to paragraph 7 below, where a company was benefitting on 2nd July 1997 from a windfall from the flotation of an undertaking whose privatisation involved the imposition of economic regulation, the amount of that windfall shall be taken for the purposes of this Part to be the excess (if any) of the amount specified in sub-paragraph (2)(a) below over the amount specified in sub-paragraph (2)(b) below.U.K.
(2)Those amounts are the following amounts (determined in accordance with paragraphs 2 to 6 below), that is to say—
(a)the value in profit-making terms of the disposal made on the occasion of the company’s flotation; and
(b)the value which for privatisation purposes was put on that disposal.