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Amendment of section 5 of Act of 1994
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6. Section 5 of the Act of 1994 is amended—
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(a) in subsection (3), by the substitution of “fair and appropriate value of the property” for “fair market value of the property”, and
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(b) by the insertion of the following subsections after subsection (4):
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“(5) An investment limited partnership may be established as an umbrella fund, that is to say as an investment limited partnership which is divided into a number of sub-funds (within the meaning of the Schedule).
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(6) The provisions of the Schedule shall have effect for the purposes of subsection (5).”.
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