Finance Act, 1991
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Relaxation of conditions in certain cases. |
66.—Where— | |
(a) any of the conditions in sections 63 to 65 which are applicable are not satisfied in relation to the vendor, but | ||
(b) the vendor proposed or agreed to the purchase in order to produce the result that the condition in section 63 (2) or 64 (3), which could not otherwise be satisfied in respect of the redemption, repayment or purchase of shares owned by a person of whom he is an associate, could be satisfied in that respect, | ||
then, if that result is produced by virtue of the purchase, section 61 (1) (a) shall have effect, as respects so much of the purchase as was necessary to produce the said result, as if the conditions in sections 63 to 65 were satisfied in relation to the vendor. |