3U.K.In consequence of the amendment made by paragraph 2, in each of the following provisions of ITA 2007, for “70%”, where it appears before “qualifying”, substitute “80%”—
(a)in section 274, subsection (3)(c), (d) and (e);
(b)in section 275 (alternative requirements for the giving of approval), subsection (3)(b);
(c)in section 278 (conditions relating to value of investments: general), subsection (1);
(d)in section 280 (conditions relating to qualifying holdings and eligible shares), subsection (2);
(e)in section 280A (the 70% qualifying holdings condition: disposal of holding), in the heading and in subsection (2);
(f)in Schedule 4 (index of defined expressions), the entry for the qualifying holdings condition.
Commencement Information
I1Sch. 5 para. 3 in force at 6.4.2019 for the purposes of the amendments made by that paragraph by S.I. 2018/931, reg. 4(a)