{
  "url": "https://openlegislation.uk/venture-capital-trust-regulations-1995/regulation-2",
  "json_url": "https://openlegislation.uk/venture-capital-trust-regulations-1995/regulation-2.json",
  "legislation": "uksi/1995/1979",
  "legislation_title": "The Venture Capital Trust Regulations 1995",
  "legislation_url": "https://openlegislation.uk/venture-capital-trust-regulations-1995",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Interpretation",
  "text": "(1) In these Regulations unless the context otherwise requires—\n“accounting date” has the meaning given by section 834(1);\n“the Board” means the Commissioners of Inland Revenue;\n“eligible shares” has the meaning given by paragraph 6(1) of Schedule 15B;\n“enduring declaration” shall be construed in accordance with regulation 12;\n“full approval” means approval in pursuance of subsection (2) of section 842AA;\n“investor” means a person who holds shares in a company which is, or has been, a trust company;\n“the Management Act” means the Taxes Management Act 1970;\n“period of account” has the meaning given by section 834(1);\n“permitted maximum” shall be construed in accordance with paragraph 8 of Schedule 15B;\n“provisional approval” means approval in pursuance of subsection (4) of section 842AA;\n“qualifying holding” shall be construed in accordance with Schedule 28B;\n“trust company” means a venture capital trust within the meaning given by section 842AA;\n“year” means a year beginning with 6th April in any year and ending with 5th April in the following year.\n(2) In these Regulations, any reference to a provision, without more, is a reference to that provision of the Income and Corporation Taxes Act 1988.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Schedule 15 to the Finance Act 1995 was inserted, by section 71(2) of that Act, as Schedule 15B to the Income and Corporation Taxes Act 1988 (c.l)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Section 842AA of the Income and Corporation Taxes Act 1988 was inserted by section 70(1) of the Finance Act 1995."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "1970 c. 9."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Schedule 14 to the Finance Act 1995 was inserted, by section 70(2) of that Act, as Schedule 28B to the Income and Corporation Taxes Act 1988."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "1988 c.l."
    }
  ],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affecting": "uksi/2014/1929",
      "affecting_title": "The Venture Capital Trust (Amendment) Regulations 2014"
    },
    {
      "type": "revoked",
      "affecting": "uksi/1999/819",
      "affecting_title": "The Venture Capital Trust (Amendment) Regulations 1999"
    },
    {
      "type": "am",
      "affecting": "uksi/2008/1893",
      "affecting_title": "The Venture Capital Trust (Amendment) Regulations 2008"
    },
    {
      "type": "rev in pt",
      "affecting": "uksi/2008/1893",
      "affecting_title": "The Venture Capital Trust (Amendment) Regulations 2008"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/1979/regulation/2",
    "retrieved_at": "2026-10-29T13:04:48.542285+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."
}