(1) Section 479 of the Principal Act is hereby amended -

(a) in subsection (1)(a), by the substitution, in paragraph (ii) of the definition of "eligible shares", of "the period of 3 years" for "the period of 5 years",

(b) in subsection (3) -

(i) by the substitution of "the period of 3 years" for "the period of 5 years", and

(ii) by the deletion of the words from "; but" to the end of the subsection,

and

(c) by the substitution of the following subsection for subsection (5) -

"(5) In relation to shares in respect of which relief has been given under subsection (2) and not withdrawn, any question -

(a) as to which (if any) such shares issued to an eligible employee at different times a disposal relates, or

(b) as to whether a disposal relates to such shares or to other shares,

shall for the purposes of this section be determined as it would be determined for the purposes of section 498 but without regard to the reference in subsection (4) (as amended by the Finance Act, 1998) of that section to subsection (3) of this section.",

and the said paragraph (ii) and the said subsection (3), as so amended, are set out in the Table to this section.