Finance Act 1999 (c. 16)

Part III U.K. Income Tax, Corporation Tax and Capital Gains Tax

Valid from 27/07/1999

Enterprise investment scheme U.K.

71 Eligibility for EIS relief. U.K.

(1) In section 289 of the Taxes Act 1988 (eligibility for EIS relief), in subsection (1A)—

(a) for paragraph (a) there shall be substituted—

“(a) is a company which—

(i) is such a company as is mentioned in section 293(2)(a), and

(ii) if it is a subsidiary of the qualifying company, is a 90 per cent subsidiary of that company, or”; and

(b) in paragraph (b), for “such a company” there shall be substituted “ a company falling within paragraph (a) above ”.

(2) This section applies in relation to shares issued on or after 6th April 1999.