Part 5Enterprise investment scheme
Chapter 4The issuing company
Definitions
189Meaning of “qualifying trade”
1
For the purposes of this Part, a trade is a qualifying trade if—
a
it is conducted on a commercial basis and with a view to the realisation of profits, and
b
it does not at any time in period B consist wholly or as to a substantial part in the carrying on of excluded activities.
2
References in this section and sections 192 to 198 to a trade are to be read without regard to the definition of “trade” in section 989.