Clause 2

by deleting subsection (4) and substituting the following subsections:“(4) Where a body corporate has, or is by the provisions of this section deemed to have, an interest in a share and —

the body corporate is, or its directors are, accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of a person; or

a person has a controlling interest in the body corporate,that person shall be deemed to have an interest in that share.(4A) Where a body corporate has, or is by the provisions of this section (apart from this subsection) deemed to have, an interest in a share and —

a person is;

the associates of a person are; or

a person and his associates are,entitled to exercise or control the exercise of not less than 20% of the votes attached to the voting shares in the body corporate, that person shall be deemed to have an interest in that share.”.(b)by deleting the words “subsection (4)(c)” in the first line of subsection (5) and substituting the words “subsection (4A)”; and

by deleting the word “and” at the end of paragraph (c) of subsection (9) and by inserting immediately thereafter the following paragraph:“(ca)an interest of a company in its own shares being purchased or otherwise acquired in accordance with sections 76B to 76G; and”.