Part 8 Venture capital trusts

1. Eligibility for relief
2. Form and amount of relief
3. No entitlement to relief if there is a linked loan
4. Loss of relief if shares disposed of within 5 years
5. Interpretation of Chapter 2
6. The 15% holding limit condition
7. Conditions relating to value of investments
8. Conditions relating to qualifying holdings and eligible shares: supplementary
9. Interpretation of Chapter 3
10. The maximum qualifying investment requirement
11. The no guaranteed loan requirement
12. The proportion of eligible shares requirement
13. The trading requirement
14. The carrying on of a qualifying activity requirement
15. Ceasing to meet the requirement because of administration or receivership
16. The use of the money raised requirement
17. The relevant company to carry on the relevant qualifying activity requirement
18. The gross assets requirement
19. The property managing subsidiaries requirement
20. Meaning of “qualifying trade”
21. Meaning of “qualifying 90% subsidiary”
22. Meaning of “qualifying subsidiary”
23. Meaning of “excluded activities”
24. Excluded activities: wholesale and retail distribution
25. Excluded activities: leasing of ships
26. Excluded activities: receipt of royalties and licence fees
27. Excluded activities: provision of services or facilities for another business
28. Winding up of the relevant company
29. Acquisitions for restructuring purposes etc
30. Power to facilitate company reorganisations
31. Meaning of a company being “in administration”
32. Meaning of “company”, “shares” and “research and development” in Part 6