SCHEDULES

SCHEDULE 2Transitionals and savings

Part 8Venture capital trusts

Meaning of “excluded activities”

81

For the purpose of determining whether shares or securities are to be regarded as comprised in a company's qualifying holdings at any time, section 303(1)(g) to (k) (and accordingly sections 307 to 309) do not apply in relation to shares or securities acquired F1before 6 April 2018 by the company by means of the investment of—

a

money raised by the issue before 17 March 1998 of shares in or securities of the investing company, or

b

money derived from the investment by that company of any such money.