(1) The Principal Act is amended -
(a) in section 511A -
(i) by the insertion in subsection (2)(c) of "or paragraph 11A, as the case may be," after "paragraph 11", and
(ii) by the insertion in subsection (5) of "or paragraph 11A, as the case may be," after "paragraph 11",
(b) in Schedule 11 -
(i) in paragraph 4 -
(I) by the insertion in subparagraph (1A)(a)(i) of ", having regard to subparagraph (1B)," after "subparagraph (1)", and
(II) by the insertion of the following subparagraph after subparagraph (1A):
"(1B) As respects a scheme which has been established by a relevant company (within the meaning of paragraph 1 of Schedule 12) -
(a) any reference in subparagraph (1)(a)(ii) to an employee or a full-time director shall be deemed to be a reference to an individual who was such an employee or a full-time director, as the case may be, of that relevant company or of a company within the relevant company's group (within the meaning of paragraph 1(3A) of Schedule 12) on the day the scheme
…