Part 6Venture capital trusts

Chapter 1Introduction

259Venture capital trusts and VCT approvals

1

In this Part “venture capital trust” means a company which—

a

is not a close company, and

b

is for the time being approved for the purposes of this Part by the Commissioners for Her Majesty's Revenue and Customs (see Chapter 3),

and “VCT” means a venture capital trust.

2

In this Part “VCT approval” means an approval of a company for the purposes of this Part.