SCHEDULES
SCHEDULE 15 The corporate venturing scheme
Part III The issuing company
F1The property managing subsidiaries requirement
Annotations:
Amendments (Textual)
21A
1
The issuing company is not a qualifying issuing company in relation to the relevant shares if, at any time during the qualification period relating to those shares, it has a property managing subsidiary which is not a qualifying 90% subsidiary of the issuing company (see paragraph 23(10) and (11)).
2
“Property managing subsidiary” means a qualifying subsidiary of the issuing company whose business consists wholly or mainly in the holding or managing of land or any property deriving its value from land.
F23
In sub-paragraph (2) “property deriving its value from land” has the meaning given by section 833(2) of CTA 2010
Sch. 15 para. 21A and cross-heading inserted (22.7.2004) (with effect in accordance with Sch. 20 para. 15 of the amending Act) by Finance Act 2004 (c. 12), Sch. 20 para. 6