318Power in respect of periods before and after winding upU.K.
(1)Any power under sections 314 to 317 to make provision in relation to a VCT-in-liquidation includes power to make corresponding or similar provision in relation to—
(a)a company for whose winding up an application has been made to a court and which is not a VCT-in-liquidation but would be if, at the time that the application was made, the court had ordered the company's winding up to commence at that time, or
(b)a company that has been a VCT-in-liquidation but no longer is a VCT-in-liquidation because it has been wound up.
(2)For the purposes of making provision in reliance on subsection (1), references in sections 314 to 317 (however expressed) to a VCT-in-liquidation's winding up, or the commencement or ending of its winding up, may be taken to be references to, or to the commencement or ending of, the extension period for a company to which subsection (1) applies.
(3)In this section—
“the extension period”—
(a)in relation to a company to which subsection (1)(a) applies, means the period beginning with the making of the application and ending with the earlier of its final determination and the company becoming a company that is being wound up, and
(b)in relation to a company to which subsection (1)(b) applies, means the period between the end of the company's winding up and the company's dissolution, and
“prescribed” means specified by, or determined under, regulations.