53. Section 16 of the Act of 2002 is amended—

(a) in subsection (1) —

(i) by substituting the following paragraph for paragraph (b):

“(b) one or more individuals who already control one or more undertakings, or one or more undertakings, acquire direct or indirect control of the whole or part of one or more other undertakings, or”, and

(ii) by substituting the following paragraph for paragraph (c):

“(c) the acquisition of part of an undertaking, although not involving the acquisition of a corporate legal entity, involves the acquisition of assets that constitute a business to which a turnover can be attributed, and for the purposes of this paragraph ‘assets’ includes goodwill.”,

(b) in subsection (4), by substituting “on a lasting basis” for “on an indefinite basis”, and

(c) by inserting the following subsection after subsection (8):

“(8A) Subsection (6) shall not apply where the undertaking referred to in subsection (7) has acquired control on the basis of the future onward sale of the business to an ultimate buyer, in circumstances where the ultimate buyer bears the major part of the economic risks.”