{
  "url": "https://openlegislation.uk/finance-no-2-act-2017/section-11",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2017/section-11.json",
  "legislation": "ukpga/2017/32",
  "legislation_title": "Finance (No. 2) Act 2017",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2017",
  "path": "section/11",
  "kind": "section",
  "number": "11",
  "heading": "EIS and SEIS: the no pre-arranged exits requirement",
  "text": "(1) ITA 2007 is amended as follows.\n(2) In section 177 (EIS: the no pre-arranged exits requirement), for subsection (2) substitute—\n“(2) The arrangements referred to in subsection (1)(a) do not include—\n(a) any arrangements with a view to such an exchange of shares, or shares and securities, as is mentioned in section 247(1), or\n(b) any arrangements with a view to any shares in the issuing company being exchanged for, or converted into, shares in that company of a different class.”\n(3) In section 257CD (SEIS: the no pre-arranged exits requirement), for subsection (2) substitute—\n“(2) The arrangements referred to in subsection (1)(a) do not include—\n(a) any arrangements with a view to such an exchange of shares, or shares and securities, as is mentioned in section 257HB(1), or\n(b) any arrangements with a view to any shares in the issuing company being exchanged for, or converted into, shares in that company of a different class.”\n(4) The amendments made by this section have effect in relation to shares issued on or after 5 December 2016.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2017/32/section/11",
    "retrieved_at": "2026-10-29T09:05:16.335265+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}