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Paragraph 67

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

(1)

The investing company is eligible for relief under this Part (“loss relief”) if—

(a)

it incurs an allowable loss on the disposal of shares to which investment relief is attributable (and not withdrawn in full as a result of the disposal), and

(b)

the requirements of sub-paragraphs (2) and (3) are met.

(2)

The first requirement is that the shares must have been held continuously by the investing company from the time they were issued until the disposal.

(3)

The second requirement is that the disposal on which the loss is incurred must be a disposal of the kind described in paragraph (a), (b), (c) or (d) of paragraph 46(2).