(1) Section 75 of the Principal Act is amended -

(a) by substituting the following for subsection (1):

"(1) In this section -

'common contractual fund' has the meaning assigned to it by section 739I of the Taxes Consolidation Act 1997;

'investment undertaking' has the meaning assigned to it by section 739B of the Taxes Consolidation Act 1997;

'unit', in relation to a common contractual fund, has the meaning assigned to it by section 739I of the Taxes Consolidation Act 1997;

'unit', in relation to an investment undertaking, has the meaning assigned to it by section 739B of the Taxes Consolidation Act 1997.",

(b) in subsection (2), by substituting "common contractual fund" for "specified collective investment undertaking", and

(c) by substituting the following for subsection (3):

"(3) Where -

(a) any unit of an investment undertaking which is comprised in a gift or inheritance came into the beneficial ownership of the disponer or became subject to the disposition prior to 15 February 2001, and

(b) the conditions at subparagraphs (i) and (iii) of subsection (2) are complied with,