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Paragraph 2

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

A company (“the investing company”) is eligible for investment relief in respect of an amount subscribed by it for an issue of shares in another company (“the issuing company”) if—

(a)

the shares (“the relevant shares”) are issued to the investing company;

(b)

the investing company is a qualifying investing company in relation to the relevant shares (see Part II of this Schedule);

(c)

the issuing company is a qualifying issuing company in relation to the relevant shares (see Part III of this Schedule); and

(d)

the general requirements of Part IV of this Schedule are met in respect of the relevant shares.