Related Commentary  Related HMRC Manuals

226(1)  Condition A of this section is that either–

(a)the CDFI receives from the investor, on the investment date, the full amount of the loan, or

(b)if the loan agreement authorises the CDFI to draw down amounts of the loan over a period of time, the end of that period is not later than 18 months after the investment date.

226(2)  Condition B is that the loan must not carry any present or future right to be converted into or exchanged for a loan which is, or securities, shares or other rights which are, redeemable within the 5 year period.

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