466(1)Amend section 456 (securities issued to connected persons etc at excessive price) as follows.U.K.
(2)For subsection (7) substitute—
“(7)Chapter 2 of Part 10 of CTA 2010 (meaning of “close company”) applies for the purposes of this section but with the omission of section 442(a) (exclusion of non-UK resident companies).”
(3)In subsection (8) for “section 416 of ICTA” substitute “ sections 450 and 451 of CTA 2010 ”.