# Finance Act 1997, Paragraph 7


(1) This Schedule—
(a) applies in relation to shares acquired after 26th November 1996; and
(b) subject to sub-paragraph (3) below, applies after 26th November 1996 in relation to shares that fall within sub-paragraph (2) below.
(2) Shares fall within this sub-paragraph if—
(a) they were acquired by a person at any time on or before 26th November 1996;
(b) they were held by him throughout the period beginning with that time and ending with 26th November 1996; and
(c) at all times in that period they were, for the purposes of Chapter IA of Part V of the Taxation of Chargeable Gains Act 1992, eligible shares in a qualifying company.
(3) The application of the preceding provisions of this Schedule in relation to any shares falling within sub-paragraph (2) above shall not prevent those shares from being (or having been) shares in a qualifying company at any relevant time when those shares would have been shares in such a company if this Schedule had not been enacted.
(4) For the purposes of sub-paragraph (3) above a time is a relevant time in relation to any shares falling within sub-paragraph (2) above if it is a time after 26th November 1996 and within the period of 3 years after the acquisition of the shares.

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Source: https://www.legislation.gov.uk/ukpga/1997/16/schedule/17/paragraph/7 (the official version)
Page: https://openlegislation.uk/finance-act-1997/schedule-17/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.