Part 1 of the Horserace Betting and Olympic Lottery Act 2004 (sale of the Tote) is amended as follows.

In section 2(2)(b)(i) of (transfer of assets: successor company), for “the Companies Act 1985” substitute “ the Companies Act 2006 ”.

In section 5(3)(b) (issue of shares etc to government) for “the Companies Act 1985” substitute “ the Companies Act 2006 ”.