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Amendment made: No. 10, in page 4, line 28, leave out subsection (1) and insert:
'(1) Subject to paragraph 2 of Schedule 2 to this Act, any entitlement of the Secretary of State and any liability of the Board in respect of the public dividend capital of the Board shall be extinguished immediately before the appointed day; and the aggregate nominal value of the shares in the successor company issued in pursuance of section 3 of this Act shall be equal to the amount of the public dividend capital immediately before that day.'. —[Mr. Tebbit.]