SCHEDULES

SCHEDULE 18Enterprise investment scheme

Part 2Deferral relief

15

(1)

In paragraph 10 (re-investment in same company, etc)—

(a)

in sub-paragraph (1), for “other securities” substitute “ securities ”,

(b)

after sub-paragraph (3) insert—

“(4)

In this paragraph “group of companies” means a company which has one or more 51 per cent. subsidiaries, together with those subsidiaries.”.

(2)

The amendments made by this paragraph have effect, for the purposes of paragraph 10 (1) of Schedule 5B to the Taxation of Chargeable Gains Act 1992 (c. 12), in relation to holdings of shares or securities disposed of on or after 17th March 2004.

(3)

The amendment made by sub-paragraph (1)(b) has effect, for the purposes of paragraph 10(2) of that Schedule, in relation to eligible shares in a relevant company issued on or after 17th March 2004.