{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-174",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-174.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/174",
  "kind": "section",
  "number": "174",
  "heading": "The purpose of the issue requirement",
  "text": "(1) The relevant shares (other than any of them which are bonus shares) must be issued in order to raise money for the purpose of a qualifying business activity so as to promote business growth and development.\n(2) For this purpose “business growth and development” means the growth and development of—\n(a) if the issuing company is a single company, the business of that company, and\n(b) if the issuing company is a parent company, what would be the business of the group if the activities of the group companies taken together were regarded as one business.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 174(1): s. 174 renumbered as s. 174(1) (with effect in accordance with Sch. 5 para. 23 of the amending Act) by Finance (No. 2) Act 2015 (c. 33), Sch. 5 para. 10(2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 174(1) inserted (with effect in accordance with Sch. 5 para. 23 of the amending Act) by Finance (No. 2) Act 2015 (c. 33), Sch. 5 para. 10(3)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "S. 174(2) inserted (with effect in accordance with Sch. 5 para. 23 of the amending Act) by Finance (No. 2) Act 2015 (c. 33), Sch. 5 para. 10(4)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/174",
    "retrieved_at": "2026-10-29T09:13:03.599581+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."
}