Finance Act 2008

Corporate Venturing Scheme U.K.

1 U.K. Part 3 of Schedule 15 to FA 2000 (CVS: the issuing company) is amended as follows.

2 U.K. In paragraph 26 (excluded activities)—

(a) in sub-paragraph (1), after paragraph (h) insert—

“(ha) shipbuilding;

(hb) producing coal;

(hc) producing steel;”, and

(b) in sub-paragraph (2), after the entry relating to paragraph 30 insert—

“paragraph 30A (shipbuilding);

paragraph 30B (producing coal);

paragraph 30C (producing steel);”.

3 U.K. After paragraph 30 insert—

“Excluded activities: shipbuilding U.K.

30A In paragraph 26(1)(ha) “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.

Excluded activities: producing coal U.K.

30B (1) This paragraph supplements paragraph 26(1)(hb).

(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.

Excluded activities: producing steel U.K.

30C In paragraph 26(1)(hc) “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.”