Finance Act 2002 (c. 23)

SCHEDULES

SCHEDULE 16 U.K. Community investment tax relief

Part 3 U.K. Qualifying investments

Conditions to be satisfied in relation to securities U.K.

10 (1) The first condition of this paragraph is that the securities must be—

(a) subscribed for wholly in cash, and

(b) fully paid for on the investment date.

(2) The second condition is that the securities must not carry—

(a) any present or future right to be redeemed within the five year period, or

(b) any present or future right to be converted into or exchanged for a loan which is, or securities, shares or other rights which are, redeemable within that period.

Commencement Information

I1 Sch. 16 para. 10 in force at 23.1.2003 by S.I. 2003/88, arts. 2, 3