Section 134 of the Finance Act, 1994, shall have effect and be deemed always to have had effect as if the following subsections were substituted for subsection (7):
"(7) Where, in relation to a gift or an inheritance -
(a) relevant business property consisting of shares in or securities of a company are comprised in the gift or inheritance on the valuation date, and
(b) property consisting of a business, or interest in a business, not falling within section 127(4) (hereinafter in this section referred to as 'company business property') is on that date beneficially owned by that company or, where that company is a holding company of one or more companies within the same group, by any company within that group,
that company business property shall, for the purposes of subsection (1), be excluded property in relation to those shares or securities unless it would, a Part from section 127(3), have been relevant business property if -
(i) it had been the subject matter of that gift or inheri
…