The Community Investment Tax Relief (Accreditation of Community Development Finance Institutions) Regulations 2003 No. 96

SCHEDULE 1 U.K. INVESTMENTS WHICH ARE NOT RELEVANT INVESTMENTS

Investments by retail community investment finance institutions U.K.

9.  Where the CDFI has been accredited as a retail community investment finance institution, any investment in another CDFI or in any other body whose objective is to provide finance for enterprises in or for disadvantaged communities where, as a consequence of that investment, and for so long as, for more than three months the total amount invested in such bodies exceeds 10% of the amount of the investment fund at—

(a) for the first year following accreditation, the date the investment is made by the CDFI, and

(b) thereafter, the immediately preceding anniversary of the accreditation date.

Commencement Information

I1 Sch. 1 para. 9 in force at 13.2.2003, see reg. 1