(1) Chapter 2 of Part 2 of the Principal Act is hereby amended by the insertion after section 23 of the following section:

"23A.

(1)

(a) In this section -

'arrangements' means arrangements having the force of law by virtue of section 826;

'relevant company' means a company -

(i) which is under the control, whether directly or indirectly, of a person or persons who is or are -

(I) by virtue of the law of any relevant territory, resident for the purposes of tax in a relevant territory or relevant territories, and

(II) not under the control, whether directly or indirectly, of a person who is, or persons who are, not so resident,

or

(ii) which is, or is related to, a company the principal class of the shares of which is substantially and regularly traded on one or more than one recognised stock exchange in a relevant territory or territories;

'relevant territory' means -

(i) a Member State of the European Communities, or

(ii) not being such a Member State, a territory with the government of which arrangements have been made;