Substantial interest timing changed to date of search, affecting settlement application eligibility and related tax-disclosure tests. The amendment substitutes 'on the date of search' for 'at any time during the previous year' in the Explanation to clause (b) of the proviso to sub-section (1) of section 245C, so that substantial interest-whether beneficial ownership of company shares carrying voting power or beneficial entitlement to business profits-is determined as of the date of search, affecting identification of applicants related to specified persons and the application of related-person eligibility and tax-disclosure thresholds for settlement applications, effective 1 July 2012.