209 Disposal of shares

209(1) This section applies if–

(a)the investor disposes of any of the relevant shares,

(b)the disposal takes place before period A ends, and

(c)EIS relief is attributable to the shares.

209(2) If the disposal is not made by way of a bargain made at arm's length, the EIS relief attributable to the shares must be withdrawn.

209(3) If the disposal is made by way of a bargain made at arm's length, the EIS relief attributable to the shares must–

(a)if it is greater than the amount given by the formula set out below, be reduced by that amount, and

(b)in any other case, be withdrawn.

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