1On 31st July 1974 each of the companies specified in Part I of this Schedule fulfilled the following conditions, namely,—
(a)the company was incorporated and had its principal place of business in Great Britain, and
(b)the company fulfilled the criteria in any one of paragraphs 2 to 4 below as a shipbuilding company, a manufacturer of slow speed diesel marine engines or a training company, and
(c)the company was not a wholly owned subsidiary of a company which fulfilled both of the preceding conditions.