SCHEDULES

SCHEDULE 28B Venture Capital Trusts: Meaning of “qualifying holdings”

Requirements as to the subsidiaries etc. of the relevant company

C19

1

The requirements of this paragraph are that F1. . . the relevant company must not be—

a

a company which controls (whether on its own or together with any person connected with it) any company that is not a qualifying subsidiary of the relevant company; or

b

a company which is under the control of another company (or of another company and a person connected with the other company);

and arrangements must not be in existence by virtue of which the relevant company could fall within paragraph (a) or (b) above.

2

F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .