Section 597AA of the Principal Act is amended, in subsection (1)(a), by the substitution of the following definition for the definition of "holding company":

"‘holding company’ means a company -

(i) that holds shares in other companies, all of which are its 51 per cent subsidiaries, and

(ii) whose business consists wholly or mainly of the holding of shares in the subsidiaries referred to in subparagraph (i);".