Paragraph 8

(1)

Paragraph 36 of Schedule 15 to FA 2000 (corporate venturing scheme: requirement as to money raised) is amended as follows.

(2)

In sub-paragraph (1), for “At least 80%” substitute “ All ”.

(3)

Omit sub-paragraph (1A).

(4)

In sub-paragraph (1B), for “12 months” (in both places) substitute “ two years ”.

(5)

In sub-paragraph (1C), for “Sub-paragraphs (1) and (1A) are” substitute “ Sub-paragraph (1) is ”.

(6)

In sub-paragraph (5) omit “does not apply and the requirement of sub-paragraph (1A)”.