The no guaranteed loan requirementU.K.
69U.K.For the purpose of determining whether shares or securities are to be regarded as comprised in a company's qualifying holdings, section 288 does not apply in relation to shares or securities acquired by a company by means of the investment of—
(a)money raised by the issue before 2 July 1997 of shares in or securities of the investing company, or
(b)money derived from the investment by that company of any such money.