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Amendment of section 597AA of Principal Act (revised entrepreneur relief)
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48. 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”:
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“ ‘holding company’ means a company—
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(i) that holds shares in other companies, all of which are its 51 per cent subsidiaries, and
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(ii) whose business consists wholly or mainly of the holding of shares in the subsidiaries referred to in subparagraph (i);”.
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