Related Commentary  

204(1)  For the purposes of section 199(6) or 201(6), the capital market condition is met if–

(a)the actual provision forms part of a capital market arrangement,

(b)the capital market arrangement involves the issue of a capital market investment,

(c)the securities that represent the capital market investment are issued wholly or mainly to independent persons, and

(d)the total value of the capital market investments made under the capital market arrangement is at least £50 million.

204(2)  In this section–

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