9Exemption under Dentists Act 1984
(1)If the College within the period of three years beginning with the appointed day forms a wholly-owned subsidiary for carrying on the business of dentistry and no other business except for a business ancillary to the business of dentistry, for the purposes of section 43(2)(b) of the [1984 c. 24.] Dentists Act 1984—
(a)the Institute shall be deemed to have been reconstructed on the appointed day; and
(b)the company shall be deemed to be a body corporate coming into existence on the reconstruction of the Institute;
and, accordingly, the company shall be deemed to fall within section 43(1) of the said Act of 1984 provided that it complies with subsection (1)(c) and (d) of that section.
(2)In this section “wholly-owned subsidiary” has the meaning given by section 736 of the [1985 c. 6.] Companies Act 1985.