163The no connection with the issuing company requirementU.K.
This section has no associated Explanatory Notes
(1)The investor must not be connected with the issuing company (whether before or after its incorporation) at any time during the period—
(a)beginning two years before the issue of the shares, and
(b)ending immediately before the termination date relating to the shares.
(2)This is subject to section 169(1).