Section 110 of the Principal Act is amended -

(a) in subsection (1) -

(i) in the definition of "specified person" in subsection (1) -

(I) in paragraph (a), by deleting -

"where 'controls' and 'controlled' have the same meanings as they would have by the application of section 11 to this paragraph,",

and

(II) in paragraph (b), by inserting after subparagraph (ii) the following:

"(iia) to whom loans or advances held by the qualifying company were made, or",

and

(ii) by inserting the following definition:

"'significant influence' means a person with the ability to participate in the financial and operating decisions of a company;",

(b) in subsection (2) -

(i) in paragraph (b), by substituting "bad," for "bad, and",

(ii) in paragraph (c), by substituting "time, and" for "time.", and