The Principal Act is amended in Part 27, in Chapter 1 -

(a) by the substitution in subsection (1) of section 737 for the definition of "special investment units" of the following definition:

"'special investment units' means units sold to an individual on or after 1 February 1993 and before 1 January 2001 by the management company or trustee under an authorised unit trust scheme in respect of which -

(a) the conditions specified in subsection (3) are satisfied, and

(b) a declaration of the kind specified in subsection (4) has been made to the management company or trustee;",

(b) in section 738, in subsection (2) by the substitution for paragraph (b) (i) of the following paragraph:

"(b)

(i) As respects an undertaking for collective investment which is a company, the corporation tax which is chargeable on its profits on which corporation tax falls finally to be borne for a chargeable period shall, for the purposes of the Tax Acts, be such tax before it is reduced by any credit, relief or other reduction under those Acts, computed as if the rate of corporation tax were equal to the standard rate for the year of assessment in which the chargeable period falls.",

and

(c) by the insertion after section 739 of the following section:

"739A. Reorganisation of undertakings for collective investment.