Section 26

INTRODUCTORY

1  Part 6 of ITA 2007 (venture capital trusts) is amended as follows.

LIMITING ELIGIBILITY FOR RELIEF TO INVESTMENTS MADE BEFORE 2025

2(1)  Section 261 (eligibility for VCT relief) is amended as follows.

2(2)  [Inserts ITA 2007, s. 261(3)(za).]

2(3)  [Inserts ITA 2007, s. 261(5).]

REQUIREMENTS FOR THE GIVING OF VCT APPROVAL

3(1)  Section 274 (requirements for the giving of approval) is amended as follows.

3(2)  [Amends table in ITA 2007, s. 274(2).]

3(3)  In subsection (3)–

(a)[amends ITA 2007, s. 274(3)(e),]

(b)[amends ITA 2007, s. 274(3)(f),]

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