SCHEDULES
C1SCHEDULE 16Community investment tax relief
Annotations:
Modifications etc. (not altering text)
Part 4General conditions
I117No acquisition of share in partnership
1
Where the CDFI is a partnership, the investment must not consist of or include any amount of capital contributed by the investor on becoming a member of the partnership.
2
For this purpose, the amount of capital contributed by the investor on becoming a member of the partnership includes any amount which—
a
purports to be provided by the investor by way of loan capital, and
b
is accounted for as partners’ capital in the accounts of the partnership.
Sch. 16 modified by 2005 c. 7, s. 54A (as inserted (10.7.2008) by The Alternative Finance Arrangements (Community Investment Tax Relief) Order 2008 (S.I. 2008/1821), arts. 1, 2)