In Part II of Schedule 1 to the M1Trustee Investments Act 1961 (" narrower-range investments" in which trust property may be invested) the following paragraph shall be inserted after paragraph 10—

“10A

In any units, or other shares of the investments subject to the trusts, of a unit trust scheme which, at the time of investment, is an authorised unit trust, within the the meaning of section 358 of the M2Income and Corporation Taxes Act 1970, in relation to which, by virtue of section 60 of the M3Finance Act 1980, section 354 of the said Act of 1970 does not apply.”