(1) For the purposes of this section -
"securities" includes any loan stock or similar security whether secured or unsecured;
references to the disposal of assets include references to any method by which one company which is a member of a group appropriates the goodwill of another member of the group;
'a group of companies' may consist of companies some or all of which are not resident for the purposes of tax in a relevant Member State.
(2) References in this section to the disposal of shares or securities include references to the occasion of the making of a claim under section 538(2) that the value of shares or securities has become negligible, and references to a person making a disposal shall be construed accordingly.
(3) This section shall apply as respects a disposal of shares in or securities of a company (in this section referred to as an "ultimate disposal") if the value of the shares or securities has been materially reduced by a depreciatory transaction effected on or after
…