(1) The Principal Act is amended -
(a) in section 509 -
(i) in subsection (1), by substituting the following for the interpretation given to "shares":
"'shares' includes stock and specified securities;
'specified securities' means securities (within the meaning of Schedule 12), other than ordinary shares, which -
(a) were transferred to the trustees of an approved scheme by the trustees of an employee share ownership trust to which section 519 applies, and
(b) were -
(i) securities issued to the trustees of the employee share ownership trust referred to in paragraph (a) in an exchange to which section 586 applies,
(ii) securities (in this subparagraph referred to as 'similar securities') similar to the securities referred to in subparagraph (i) and which were acquired by those trustees using dividends received in respect of the securities so referred to or in respect of similar securities so acquired,
(iii) securities issued to those trustees as a result of a reorganisation or reductio
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