Part 5Enterprise investment scheme
Chapter 4The issuing company
The requirements
186The gross assets requirement
1
In the case of relevant shares issued by a single company, the value of the company's assets—
a
must not exceed F1£15 million immediately before the relevant share issue, and
b
must not exceed F3£16 million immediately afterwards.
2
In the case of relevant shares issued by a parent company, the value of the group assets—
a
must not exceed F2£15 million immediately before the relevant share issue, and
b
must not exceed F4£16 million immediately afterwards.
3
In this section—
a
the relevant share issue is the issue of shares in the company that includes the relevant shares, and
b
the value of the group assets is the sum of the values of the gross assets of each of the members of the group, ignoring any that consist in rights against, or shares in or securities of, another member of the group.