The EIS relief obtained by all the investors may be withdrawn or reduced if, at any time within Period C (see ¶323-030), the issuing company or any subsidiary makes a payment to any member (other than a particular class; see below) as a result of:

the repayment, redemption or repurchase of any of the share capital of that company, (other than where a plc issues shares whose nominal value is equal to the authorised minimum and they are redeemed within 12 months; ITA 2007, s. 230); or

the member giving up rights to any of the share capital of the issuing company or its subsidiary on its cancellation or extinguishment

(ITA 2007, s. 224(1)).

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