(1) Section 488 of the Principal Act is amended, in the definition of "associate", by deleting ", except that the reference in paragraph (b) of that subsection to any relative of a participator shall be excluded from such meaning".

(2) Section 492 of the Principal Act is amended -

(a) in subsection (4) -

(i) by substituting "if the individual, or an associate of the individual," for "if he or she", and

(ii) by substituting "to acquire any of" for "to acquire more than 30 per cent of",

(b) in subsection (6)(a) -

(i) by substituting "if the individual, or an associate of the individual," for "if he or she", and

(ii) by substituting "to receive any of" for "to receive more than 30 per cent of",

and

(c) by substituting the following subsection for subsection (8):

"(8) For the purposes of subsections (4) and (6)(a), no account shall be taken of -

(a) shares in the company concerned which are held by the individual concerned where -

(i) that individual was entitled to relief under this Part in respect of the acquisition of those shares, and