§ Amendments made: No. 30, in page 155, line 28, leave out second `full-time' and insert `qualifying'.
§ No. 31, in page 155, line 43, leave out second lull-time' and insert `qualifying'.
§
No. 32, in page 155, line 48, at end insert—
'(4) In determining for the puposes of this paragraph whether a person has or has had a material interest in a company, subsection (6) of section 285 of the Taxes Act (interest paid to directors and directors' associates) and paragraph (ii) of the proviso to section 303(3) of that Act (meaning of "associate') shall have effect with the substitution for the references in those provisions to 5 per cent. of references to 10 per cent.'.
§
No. 33, in page 156, line 13, at end insert—
'(2A) Where there were no relevant emoluments for the preceding year of assessment, subparagraph (2) above shall apply with the following paragraph substituted for paragraph (b)—
(b) four times the amount of the relevant emoluments for the period of twelve months beginning with the first day during the current year of assessment in respect of which there are relevant emoluments".'.
§
No. 34, in page 158, line 43, at end insert—
`qualifying employee" in relation to a company, means an employee of the company (other than one who is a director of the company or, in the case of a group scheme, of a participating company) who is required, under the terms of his employment, to work for the company for at least twenty hours a week;'. —[Mr. Moore.]