Finance Act 2008 (c. 9)

SCHEDULES

SCHEDULE 11 U.K. Venture capital schemes

Enterprise Investment Scheme U.K.

4 U.K. Chapter 4 of Part 5 of ITA 2007 (EIS: the issuing company) is amended as follows.

5 U.K. In section 192 (meaning of “excluded activities”)—

(a) in subsection (1), after paragraph (i) insert—

“(ia) shipbuilding,

(ib) producing coal,

(ic) producing steel,”, and

(b) in subsection (2), after paragraph (d) insert—

“(da) section 196A (shipbuilding),

(db) section 196B (producing coal),

(dc) section 196C (producing steel),”.

6 U.K. After section 196 insert—

“196A Excluded activities: shipbuilding

In section 192(1)(ia) “shipbuilding” has the same meaning as in the Framework on state aid to shipbuilding (2003/C 317/06), published in the Official Journal on 30 December 2003.

196B Excluded activities: producing coal

(1) This section supplements section 192(1)(ib).

(2) “Coal” has the meaning given by Article 2 of Council Regulation (EC) No. 1407/2002 (state aid to coal industry).

(3) The production of coal includes the extraction of it.

196C Excluded activities: producing steel

In section 192(1)(ic) “steel” means any of the steel products listed in Annex 1 to the Guidelines on national regional aid (2006/C 54/08), published in the Official Journal on 4 March 2006.”