Chapter 4 of Part 42 of the Principal Act is, as respects the year of assessment 2005 and subsequent years of assessment, amended by inserting the following after section 997:

"997A.

(1)

(a) In this section -

'control' has the same meaning as in section 432;

'ordinary share capital', in relation to a company, means all the issued share capital (by whatever name called) of the company.

(b) For the purposes of this section -

(i) a person shall have a material interest in a company if the person, either on the person's own or with any one or more connected persons, or if any person connected with the person with or without any such other connected persons, is the beneficial owner of, or is able, directly or through the medium of other companies or by any other indirect means, to control, more than 15 per cent of the ordinary share capital of the company, and

(ii) the question of whether a person is connected with another person shall be determined in accordance with section 10.

(2) This section applies to a person to who, in relation to a company (hereafter in this section referred to as 'the company'), has a material interest in the company.