Part 5Enterprise investment scheme
Chapter 4The issuing company
Excluded activities
192Meaning of “excluded activities”
1
The following are excluded activities for the purposes of sections 181 and 189—
a
dealing in land, in commodities or futures or in shares, securities or other financial instruments,
b
dealing in goods otherwise than in the course of an ordinary trade of wholesale or retail distribution,
c
banking, insurance, money-lending, debt-factoring, hire-purchase financing or other financial activities,
d
leasing (including letting ships on charter or other assets on hire),
e
receiving royalties or licence fees,
f
providing legal or accountancy services,
g
property development,
h
farming or market gardening,
i
holding, managing or occupying woodlands, any other forestry activities or timber production,
j
operating or managing hotels or comparable establishments or managing property used as an hotel or comparable establishment,
k
operating or managing nursing homes or residential care homes or managing property used as a nursing home or residential care home, and
l
any activities which are excluded activities under section 199 (provision of services or facilities for another business).
2
Subsection (1) is supplemented by the following provisions—
a
section 193 (wholesale and retail distribution),
b
section 194 (leasing of ships),
c
section 195 (receipt of royalties and licence fees),
d
section 196 (property development),
e
section 197 (hotels and comparable establishments), and
f
section 198 (nursing homes and residential care homes).