Clause 2

by deleting the words “or both by shares and guarantee” in the definition of “limited company” in subsection (1);

by inserting, immediately after the word “manner” in the sixth line of subsection (6), the following words:“but, without prejudice to the generality of the foregoing, where such offering is being made by a person to whom section 39B applies, whose shares or debentures are already dealt in or quoted on a Stock Exchange, the offer or invitation shall be construed as being an offer to the public if that offer or invitation to make an offer is made to persons upon terms that they may renounce the right to any shares or debentures to be obtained thereunder in favour of other persons, to enable the latter to acquire any shares or debentures dealt in or quoted on any Stock Exchange and that the offer or invitation states that an application has been or will be made for permission to deal in those shares or debentures on any Stock Exchange”;

by deleting the words “shall not be deemed” in the seventh line of subsection (6) and substituting the words “shall be deemed not”; and

by inserting, immediately after the word “made” in the first line of paragraph (c) of subsection (6), the words “as a non-renounceable rights issue or bonus issue”.