# Income Tax Act 2007, Section 257CB: The purpose of the issue requirement


(1) The relevant shares (other than any of them which are bonus shares) must be issued in order to raise money for the purposes of a qualifying business activity carried on, or to be carried on, by the issuing company or a qualifying 90% subsidiary of that company.
(2) For the meaning of “qualifying business activity” see section 257HG.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/257CB (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-257CB
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.