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Finance Act 2013

Background

15.CITR was introduced in 2002 to encourage investment in disadvantaged communities.

16.To date it has raised in excess of £72 million from individual and corporate investors.

17.Investors invest into Community Development Finance Institutions which, in turn, invest in businesses in disadvantaged communities.

18.Previously a notified State aid, the scheme will become a de minimis aid within the meaning of Article 2 of the Commission Regulation (EC) No 1998/2006 as a result of these changes.

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