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Amendment of section 87A (stock repo) of Principal Act.
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123.—(1) Section 87A of the Principal Act is amended—
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(a) in subsection (1)—
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(i) in the definition of “repurchase agreement” by substituting “12 months” for “6 months”, and
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(ii) in the definition of “stock return” by substituting “12 month time limit” for “6 month time limit”,
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(b) in subsection (3) by substituting “12 months” for “6 months”, and
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(c) in subsection (4)(a) by substituting “12 months” for “6 months”.
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(2) This section applies to stock transfers (for the purposes of section 87A of the Principal Act) executed on or after the date of the passing of this Act.
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