SCHEDULES
SCHEDULE 14Investment reliefs: venture capital schemes
Part 1Limits on gross assets of issuers of shares or securities
Enterprise investment scheme
1
F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Venture capital trusts
2
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Corporate venturing scheme
3
1
In paragraph 22(1) and (2) of Schedule 15 to FA 2000 (corporate venturing scheme: limits on value of gross assets of share-issuing company or its group)—
a
in paragraph (a)
(value must not exceed £15 million immediately before issue of relevant shares), for “£15 million” substitute “
£7 million
”
, and
b
in paragraph (b)
(value must not exceed £16 million immediately after issue of relevant shares), for “£16 million” substitute “
£8 million
”
.
2
Sub-paragraph (1) has effect in relation to shares issued on or after 6th April 2006, subject to sub-paragraph (3).
3
Sub-paragraph (1) does not have effect in relation to shares issued on or after 6th April 2006 to a person who subscribed for them before 22nd March 2006.