# Finance Act 2000, Paragraph 3

Extent: E+W+S+N.I.

(1) In this Schedule “the qualification period”, in relation to the relevant shares, means the period beginning with the issue of the shares and ending—
(a) immediately before the third anniversary of the issue date; or
(b) where the money raised by the issuance of the shares is employed wholly or mainly for the purposes of one or more qualifying trades that, on the issue date, were not being carried on—
(i) by the issuing company, or
(ii) if it is a parent company, by that company or any of its qualifying 90% subsidiaries ,
immediately before the third anniversary of the trading date.
(2) For this purpose “the trading date” means—
(a) the date on which the issuing company or one of its qualifying 90% subsidiaries begins to carry on the qualifying trade to which sub-paragraph (1)(b) refers, or
(b) if there is more than one such trade, the latest date on which the issuing company or one of its qualifying 90% subsidiaries begins to carry on such a trade.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/15/paragraph/3 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-15/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.