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Amendments made: No. 86, in page 53, line 41, leave out 'references in that subsection' and insert
'for the purposes of paragraph (b) any shares acquired by that company from another company which was a member of the group throughout the prescribed period before and after the disposal shall be disregarded.
(3) References in subsection (1) above'.
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No. 87 in page 53, line 43, at end insert
';and references in that subsection to the holding or acquisition of shares do not include references to the holding or acquisition of shares as trading stock.
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No. 88, in page 55, line 15, at end insert
'trading stock", in relation to a company carrying on life assurance business as defined in section 323 of the Taxes Act, does not include investments held in connection with that business except in so far as they are referable to general annuity business or pension business as defined in that section.'.
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No. 89, in page 55, leave out lines 16 to 20 and insert
(10) Shares shall not be treated for the purpose of this section as being of the same kind unless they are treated as being of the same class by the practice of a recognised stock exchange or would be so treated if dealt with on such a stock exchange.'.—[Mr. Joel Barnett.]