5(1)Paragraphs 1 and 2 above have effect in relation to shares issued on or after 17th March 1998.
(2)Subject to sub-paragraph (3) below, paragraphs 3 and 4 above have effect for the purpose of determining whether any shares or securities are, as at any time on or after 17th March 1998, to be regarded as comprised in the qualifying holdings of any company (“the trust company”).
(3)Paragraphs 3 and 4 above shall not have effect for the purpose of making such a determination in relation to any shares or securities acquired by the trust company by means of the investment of—
(a)money raised by the issue before 17th March 1998 of shares in or securities of the trust company, or
(b)money derived from the investment by that company of any such money.