SCHEDULES

SCHEDULE 33Venture capital trusts

Part 1Venture capital trusts: winding up

7Part 1: supplementary provisions and interpretation

1

Provision made by regulations under paragraphs 2 to 6 applies in cases, and subject to conditions, specified by regulations.

2

Such provision may (but need not) be made so as to have effect in a particular case only for such period as may be specified by, or determined under, regulations.

3

Such provision may be made in relation to any—

a

VCT-in-liquidation, or

b

company such as is mentioned in paragraph 6(1),

whose winding-up commences on or after 17th April 2002.

4

In this Part of this Schedule “VCT approval” means approval for the purposes of section 842AA of the Taxes Act 1988 (approval as a VCT).

5

References in this Part of this Schedule to things done by a VCT-in-liquidation include things done by a liquidator of a VCT-in-liquidation.