In section 46(3) [Section 46(3) was substituted by S.I. 2004/1261 and subsequently amended by paragraphs 1 and 26 of Schedule 5 to the Enterprise and Regulatory Reform Act 2013 and S.I. 2012/1809.] -

(a) omit paragraphs (b) and (d);

(b) in paragraph (e), for "parallel exemption" substitute "retained exemption";

(c) omit paragraph (f).