(1) Part 16 of the Principal Act is amended -

(a) in section 488(1), in the definition of "General Block Exemption Regulation", by the insertion of ", as amended by Commission Regulation (EU) No. 2023/1315 of 23 June 2023 [OJ No. L167, 30.6.2023, p. 1]" after "17 June 2014",

(b) in section 493, in the definition of "expansion risk finance investment", by the substitution of "to fund a new economic activity" for "to fund entering a new product on the market or entering a new geographic market",

(c) in section 494, by the substitution of the following subsection for subsection (3):

"(3) The shares, other than where relief under section 507 is claimed, may be redeemable.",

(d) in section 495, by the insertion of the following subsection after subsection (6):

"(7) This section applies to shares in a company that carry preferential rights to a dividend or to repayment of capital on a winding up, except in circumstances where the shares are issued to the managers of a qualifying investment fund.",

(e) in section 496 -