Schedule 28B Venture Capital Trusts: Meaning of “qualifying holdings”F1F2

United Kingdom

1. Introductory
2. Requirement that company must be unquoted company
3. Requirements as to company’s business
4. Meaning of “qualifying trade”
5. Provisions supplemental to paragraph 4
6. Meaning of “relevant qualifying subsidiary”
7. Requirements as to the money raised by the investment in question
8. Requirement imposing a maximum on qualifying investments in the relevant company
9. Requirement as to the assets of the relevant company
10. Requirements as to the subsidiaries etc. of the relevant company
11. Meaning of “qualifying subsidiary”
12. Requirement as to property managing subsidiaries
13. Requirement that securities should not relate to a guaranteed loan
14. Requirement that a proportion of the holding in each company must be eligible shares
15. Acquisitions for restructuring purposes
16. Conversion of convertible shares and securities
17. Winding up of the relevant company
18. Company in administration or receivership
19. Company reorganisations etc. involving exchange of shares
20. Power to amend Schedule
21. General interpretation