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

(a) in section 489 -

(i) by the deletion of the definition of "financial activities", and

(ii) by the insertion of the following definition:

"'financing activities' means the provision of, and all matters relating to the provision of, financing or refinancing facilities by any means which involves, or has an effect equivalent to, the extension of credit;",

(b) in section 496(5) -

(i) by the substitution of the following paragraph for paragraph (a):

"(a) An initial risk finance investment shall only be a qualifying investment where each member of the RICT group, at the time the eligible shares are issued -

(i) has not been operating in any market, or

(ii) has been operating in any market for -

(I) less than 10 years following -

(A) in the case of a company, the date of its incorporation, or

(B) in the case of a member other than a company, the date it commenced carrying on any enterprise required to be included in the RICT group,