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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2024 - onwards
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496. Qualifying investment (company perspective)

(1) In this Part, an investment shall be a qualifying investment where -

(a) an individual subscribes for eligible shares in a qualifying company, and

(b) the company employs the amount subscribed wholly or mainly for a qualifying purpose within the relevant period, and

(c) the investment complies with this section.

(2) In this Part, a qualifying purpose -

(a) includes employing the amounts in the qualifying company, or a qualifying subsidiary following an investment under section 490(4)(b) -

(i) for the purposes of carrying on relevant trading activities, or

(ii) in the case of a company which has not commenced to trade, for the purpose of carrying on R&D+I which is connected with and undertaken with a view to the carrying on of relevant trading activities,

where the use of the money will contribute directly to the creation or maintenance of employment in the company, and

(b) does not include employing the amounts on the acquisition (other than by way of subscription pursuan

Comparing proposed amendment...