(1) In this section -
"90 per cent subsidiary" has the meaning assigned to it by section 9;
"full-time employee" and "full-time director", in relation to a company, mean an employee or director, as the case may be, who is required to devote substantially the whole of his or her time to the service of the company;
"holding company" has the same meaning as in section 411;
"part-time employee" and "part-time director", in relation to a company, mean an employee or director, as the case may be, who is not required to devote substantially the whole of his or her time to the service of the company;
"private company" has the meaning assigned to it by section 33 of the Companies Act, 1963.
(2) Notwithstanding that an individual does not satisfy one or both of the conditions set out in paragraphs (a) and (b) of section 248(2), the individual shall be entitled to relief under section 248 for any interest paid on any loan to him or her applied for a purpose specified in section 248(1) if -
(a) th
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