2(1)In section 591D(3) of the Taxes Act 1988 (persons loans to whom are loans to which the valuation rule in section 591D(2) applies), for paragraphs (c) and (d) there shall be substituted the following paragraphs—
“(c)any person who has at any time (whether or not before the making of the loan) been a member of the scheme;
(d)any person connected, at the time of the making of the loan or subsequently, with a person falling within paragraph (c) above.”
(2)This paragraph has effect in relation to any case in which the date of the cessation of the approval of the scheme is on or after 17th March 1998.