Part 2 Limit on Amount Raised Annually by Company Through Risk Capital Schemes
Finance Act 2007 (2007 c 11) | Legislation

Part 2 Limit on Amount Raised Annually by Company Through Risk Capital Schemes

Corporate venturing scheme

4

(1)     Schedule 15 to FA 2000 is amended as follows.

(2)     In paragraph 34 (introduction to Part) after sub-paragraph (a) insert—

“(aa)     the maximum amount raised annually through risk capital schemes (see paragraph 35A);â€.

(3)     After paragraph 35 insert—

“Requirement as to maximum amount raised annually through risk capital schemes
35A

(1)     The total amount of relevant investments made in the issuing company in the year ending with the date the relevant shares are issued must not exceed £2 million.

(2)     In sub-paragraph (1), the reference to relevant investments made in the issuing company includes relevant investments made in any company that is, or has at any time in the year mentioned there been, a subsidiary of the issuing company (whether or not it was such a subsidiary when the investment was made).

(3)     A “relevant investment†is made in a company if—

(a)     an investment (of any kind) in the company is made by a VCT, or

(b)     the company issues shares (money having been subscribed for them), and (at any time) the company provides—

(i)     a compliance statement

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Directors’ remuneration

Directors’ remunerationCompany directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a director or to reimbursement of expenses incurred in rendering such services. Power to pay directors remuneration for their

LEXISNEXIS

Proprietary estoppel

Proprietary estoppelThis Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice

LEXISNEXIS

Fraud by false representation

Fraud by false representationFraud by false representationFraud by false representation applies to a broader range of conduct than the offences under the preceding legislation (the Theft Act 1968 (TA 1968)). No gain or loss need actually be made, and no deception need operate on the mind of the

LEXISNEXIS

Medco

MedcoSTOP PRESS: A new RTA small claims protocol for whiplash claims comes into effect for accidents occurring on or after 31 May 2021. The small claims track limit for personal injury claims arising from an RTA is increased to £5000 in respect of general damages for pain, suffering and loss of