The legislation provides for relief to be available where an individual subscribes through a nominee (see VCM16040), including where the nominee is an investment fund manager.
Managers of the Fund
The managers of an EIS fund may, if they wish, apply for the fund to be approved by HM Revenue and Customs (HMRC). The manager of the fund should be a person authorised to carry on investment business by the Financial Services Authority under the FSMA.
The approved fund rules have been amended, with effect from 6 April 2020, to focus investments on EIS knowledge-intensive companies: