9(1)Section 293 of ITA 2007 (use of money raised requirement) is amended as follows.U.K.
(2)For subsection (1) substitute—
“(1)The requirement of this section is that—
(a)less than two years has passed since the trading time, or
(b)at least two years has passed since the trading time and all of the money raised by the issue of the relevant holding has been employed wholly for the purposes of a relevant qualifying activity.”
(3)Omit subsections (2) to (4).