SCHEDULE 14

Consequential Amendments

New section 290A of the Ordinance

1 Sections 289 and 290 shall not apply to any limited company which—

(a) is incorporated outside the United Kingdom and Gibraltar; and

(b) has a branch in Gibraltar.

Amendment to section 295 of the Ordinance

In section 295 of the Ordinance, there shall be inserted in the appropriate place the following definition—

““branch” means a branch within the meaning of Council Directive 89/666/EEC on the disclosure requirements in respect of branches opened in a member State by certain types of company governed by the law of another member State”.”