SCHEDULES

SCHEDULE 13 Changes to EISetc

Part IEIS income tax relief

Connected persons: directors

7

F11

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2

In subsection (5) of that section—

a

for sub-paragraph (ii) of paragraph (b) there shall be substituted the following sub-paragraph—

ii

involved in carrying on (whether on his own account or as a partner, director or employee) the whole or any part of the trade carried on by the issuing company or a subsidiary, and

b

the words “and the reference to a trade previously carried on includes part of such a trade" shall cease to have effect.