{
  "url": "https://openlegislation.uk/finance-act-1997/schedule-17/paragraph-2",
  "json_url": "https://openlegislation.uk/finance-act-1997/schedule-17/paragraph-2.json",
  "legislation": "ukpga/1997/16",
  "legislation_title": "Finance Act 1997",
  "legislation_url": "https://openlegislation.uk/finance-act-1997",
  "path": "schedule/17/paragraph/2",
  "kind": "paragraph",
  "number": "2",
  "heading": null,
  "text": "(1) In subsection (8) of section 164A (cases where eligible shares are not a qualifying investment), after “in a qualifying company shall” there shall be inserted “ , subject to subsection (8A) below, ”.\n(2) After that subsection there shall be inserted the following subsections—\n“(8A) Where the eligible shares acquired by any person in a qualifying company are shares which he acquires by their being issued to him, his acquisition of the shares shall not be regarded as the acquisition of a qualifying investment unless the qualifying company, or a qualifying subsidiary of that company, is intending to employ the money raised by the issue of the shares wholly for the purposes of a qualifying trade carried on by it.\n(8B) For the purposes of subsection (8A) above—\n(a) the purposes of a trade include the purpose of preparing for the carrying on of the trade; and\n(b) “qualifying subsidiary” has the same meaning as in section 164G.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1997/16/schedule/17/paragraph/2",
    "retrieved_at": "2026-10-29T09:27:43.076653+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}