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(2) Where subsection (1) applies, the conversion of the loan into eligible shares shall, notwithstanding any other provision of this Part, be treated as the making of a relevant investment by the specified individual on the date of the conversion of the loan into eligible shares provided that the business plan (within the meaning of section 493) on which the relevant investment is based was prepared in advance of the loan.

“business plan” has the same meaning as in section 493;

“expansion risk finance investment” has the same meaning as in section 493;

“follow-on risk finance investment” has the same meaning as in section 493;