The Principal Act is amended -

(a) in section 81AA -

(i) in subsection (1), by the insertion of the following definitions:

"'ordinary share capital', in relation to a company, means all the issued share capital (by whatever name called) of the company, other than capital the holders of which have a right to a dividend at a fixed rate, but have no other right to share in the profits of the company;

'relevant period', in relation to an instrument, means a period of 5 years -

(a) in a case where subsection (7) applied to the instrument, commencing on the date of execution of that instrument, or

(b) in a case where subsection (11) applied to the instrument, commencing on the date the claim for repayment is made to the Commissioners;",

(ii) in subsection (12)(a), by the substitution of the following subparagraph for subparagraph (i):

"(i) disposes of such land, or part of such land (in this subsection referred to as a 'part disposal'), within the relevant period, and",

and

(iii) by the insertion of the following subsections after subsection (13):