Related Commentary  Related HMRC Manuals

231(1)  The investor must not control the CDFI at any time during the 5 year period.

231(2)  In this section references to the investor include any person connected with the investor.

231(3)  If the CDFI is a body corporate, the question whether the investor controls the CDFI is, for the purposes of this section, determined in accordance with section 1124.

This is subject to subsection (6).

231(4)  In any other case the investor is treated, for those purposes, as having control of the CDFI if the investor has power to secure, as a result of–

(a)the possession of voting power in the CDFI, or

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