Related Commentary  

14(1)  Section 280(2) shall apply to a further issue of shares (in the circumstances mentioned in subsection (1) of that section) conditionally on the money being raised by that further issue for the purposes of investment (that is, for the purpose of the trust company acquiring additional investments which fulfil the 70% tests and the 30% test).

14(2)  The condition mentioned in paragraph (1) shall be treated (in particular) as not fulfilled if–

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