(1) This section shall apply if any of the equity holders -
(a) to whom the profit distribution is made, or
(b) who is entitled to participate in the notional winding up,
holds as such equity holder any shares or securities which carry rights in respect of dividend or interest or assets on a winding up which are wholly or partly limited by reference to a specified amount or amounts (whether the limitation takes the form of the capital by reference to which a distribution is calculated or operates by reference to an amount of profits or assets or otherwise).
(2) Where this section applies, there shall be determined -
(a) the percentage of profits to which on the profit distribution the first company referred to in section 414(1) would be entitled, and
(b) the percentage of assets to which on the notional winding up the first company referred to in section 415(1) would be entitled,
if, to the extent that they are limited as mentioned in subsection (1), the rights of every equity holder w
…