[99A Section 99(4B): “listed” and “recognised growth market”]
Finance Act 1986 (1986 c 41) | Legislation

[99A  Section 99(4B): “listed” and “recognised growth market”]

[(1)     This section applies for the purposes of section 99(4B).

(2)     Section 1005(3) to (5) of the Income Tax Act 2007 (meaning of “listed” etc) applies as it applies in relation to the Income Tax Acts.

(3)     “Recognised growth market” means a market recognised as a growth market by the Commissioners for Her Majesty's Revenue and Customs.

(4)     On an application made by a market, the market is to be recognised by the Commissioners as a growth market if, and only if, the Commissioners are satisfied, on the basis of evidence provided by the market, that the market qualifies for recognition.

(5)     A market qualifies for recognition at any time (“the relevant time”) if it is a recognised stock exchange [or a qualifying UK multilateral trading facility] which meets one or both of the following conditions—

(a)     a majority of the companies whose stock or marketable securities are admitted to trading on the market are companies with market capitalisations of less than [£450 million];

(b)     the Commissioners are satisfied that the admission requirements of the market include provision requiring companies to demonstrate

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