(1) Section 110(5A) of the Principal Act is amended -

(a) in paragraph (a) -

(i) in the definition of "specified mortgage" -

(I) in paragraph (b) by inserting "or" after "sub-participation transaction,",

(II) in paragraph (c) by substituting ";" for ", or", and

(III) by deleting paragraph (d), and

(ii) by substituting the following for the definition of "specified property business":

"‘specified property business’, in relation to a qualifying company, means the whole, or part, of the business of the qualifying company that involves the holding, managing or both the holding and managing of -

(a) specified mortgages,

(b) units in an IREF (within the meaning of Chapter 1B of Part 27), or

(c) shares that derive their value from, or the greater part of their value from, directly or indirectly, land in the State,

and shall not include -

(i) a CLO transaction,

(ii) a CMBS/RMBS transaction,

(iii) a loan origination business,