Related Commentary  Related HMRC Manuals

247(1)  This section applies if the investment consists of securities or shares and–

(a)the investor receives any value (other than an amount of insignificant value) from the CDFI during the 6 year period (see section 249 for provision about when value is received),

(b)the investment or a part of it is held by the investor at the time the value is received and has been held by the investor, as sole beneficial owner, continuously since the investment was made (“the continuing investment”),

(c)the receipt is wholly or partly in excess of the permitted level of receipts in respect of the continuing investment, and

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