C1F1PART 5ASeed enterprise investment scheme
Pt. 5A applied by Taxation of Chargeable Gains Act 1992 (c. 12), Sch. 5BB para. 8(4) (as inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 6 para. 5)
CHAPTER 2The investor
The requirements
257BDThe no linked loan requirement
1
No linked loan is to be made by any person, at any time in period A, to the investor or an associate of the investor.
2
In this section “linked loan” means any loan which—
a
would not have been made, or
b
would not have been made on the same terms,
if the investor had not subscribed for the relevant shares, or had not been proposing to do so.
3
References in this section to the making by any person of a loan to the investor or an associate of the investor include a reference—
a
to the giving by that person of any credit to the investor or any associate of the investor, and
b
to the assignment to that person of a debt due from the investor or any associate of the investor.
Pt. 5A inserted (17.7.2012) (with effect in accordance with Sch. 6 para. 24(1) of the amending Act) by Finance Act 2012 (c. 14), Sch. 6 para. 1