(1) Section 135 of the Principal Act is amended -

(a) by inserting the following subsection after subsection (2) -

"(2A) No consideration derived from any share capital or security of a company (being a close company within the meaning of section 430 and in this subsection referred to as the ‘first-mentioned company’) issued to another company (being a close company within the meaning of section 430 and in this subsection referred to as the ‘second- mentioned company’) in exchange for the issue of shares or securities by the second-mentioned company shall be regarded for the purposes of this Chapter as new consideration received by the second- mentioned company in so far as it exceeds any new consideration received by the first-mentioned company for the issue of the said share capital or security.",

and

(b) by inserting the following subsection after subsection (3) -