The Venture Capital Trust (Winding up and Mergers) (Tax) (Amendment) Regulations 2011 No. 660

Amendment of regulation 14

12.—(1) Regulation 14 (limiting the operation of section 842AA(5B)) is amended as follows.

(2) For the heading before the regulation substitute “Limiting the operation of section 280”.

(3) In paragraph (1), for “section 842AA(5B)” substitute “section 280(2)” and for “(5A)” substitute “(1)”.

(4) In paragraph (4), for “section 842AA(5B)” substitute “section 280(2)”.

(5) In paragraph (5), for “section 842AA(2)(b) and (c)” substitute “section 274”.

(6) In paragraphs (1) and (5), for “70% test” substitute “70% tests”.