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Definitions in Act of 1978.
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15.—(1) “Service” in section 1 (1) of the Act of 1978 shall not include the owning and transfer of land where this activity is the sole activity of the enterprise in which control is being sought.
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(2) Section 1 (3) of the Act of 1978 is hereby amended by the substitution for paragraph (c) of the following:
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“(c) Without prejudice to paragraph (b), where an enterprise (in this paragraph referred to as 'the first enterprise'), whether by means of acquisition or otherwise, obtains the right in another enterprise (in this paragraph referred to as 'the second enterprise') which is a body corporate—
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(i) to appoint or remove a majority of the board or committee of management of the second enterprise, or
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(ii) to shares of the second enterprise which carry voting rights, except where the voting rights in the second enterprise which are controlled by the first enterprise—
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(I) are not after the acquisition more than 25 per cent of the total of such voting rights, or
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(II) are before the acquisition more than one half of the total of such voting rights,
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the said enterprises shall be deemed to have been brought under common control.”.
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(3) Section 1 (3) (e) of the Act of 1978 is hereby amended by the insertion after “acquisition” at the end of the paragraph of “and the value of those assets or the value of the turnover generated therefrom, exceeds the thresholds referred to in section 2 (1) (a).”.
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