(1) Chapter 5 of Part 12 of the Principal Act is hereby amended -
(a) in section 410 -
(i) in subsection (1)(a) by the insertion before the definition of "trading or holding company" of the following definition:
"'tax', in relation to a Member State of the European Communities other than the State, means any tax imposed in the Member State which corresponds to corporation tax in the State;",
(ii) by the substitution for paragraph (b) of subsection (1) of the following paragraph:
"(b) For the purposes of this section -
(i) a company shall be owned by a consortium if 75 per cent or more of the ordinary share capital of the company is beneficially owned between them by 5 or fewer companies resident in one or more than one Member State of the European Communities of which none of these companies beneficially owns less than 5 per cent of that capital, and those companies shall be called the members of the consortium, and
(ii) references to a company resident in a Member State of the Europea
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