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.