Income Tax Act 2007 (c. 3)

Part 5 U.K. Enterprise investment scheme

Chapter 6 U.K. Withdrawal or reduction of EIS relief

Repayments etc of share capital to other persons U.K.

230 Repayment of authorised minimum within 12 months U.K.

(1) This section applies if—

[F1 (a) a company issues share capital (“the original shares”) of nominal value equal to the authorised minimum (within the meaning of the Companies Act 2006) for the purposes of complying with section 761 of that Act (public company: requirement as to minimum share capital),]

(b) the registrar of companies issues the company with a certificate under that section.

(2) Section 224(2) does not apply in relation to any redemption of the original shares within 12 months of the date on which they were issued.

F2 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 S. 230(1)(a) substituted (6.4.2008) by Companies Act 2006 (Consequential Amendments) (Taxes and National Insurance) Order 2008 (S.I. 2008/954), arts. 1(1), 39(2) (with art. 4)

F2 S. 230(3) repealed (6.4.2008) by Companies Act 2006 (Consequential Amendments) (Taxes and National Insurance) Order 2008 (S.I. 2008/954), arts. 1(1), 39(2), Sch. (with art. 4)