(1)This section applies if the investor has obtained EIS relief in respect of the relevant shares, and an event occurs as a result of which—
(a)the investor is not a qualifying investor in relation to the shares,
(b)the EIS relief falls to be withdrawn or reduced by virtue of section 164 (no linked loans requirement),
(c)the EIS relief falls to be withdrawn or reduced under—
(i)section 209 (disposal of shares),
(ii)section 211 (call options), or
(iii)section 212 (put options), or
(d)the EIS relief falls to be withdrawn or reduced under section 213 (receipt of value by the investor), or would fall to be so withdrawn or reduced but for section 222 (receipt of replacement value).
(2)The investor must within 60 days of coming to know of the event give a notice to an officer of Revenue and Customs containing particulars of the event.
(3)If the investor—
(a)is required under this section to give notice of a receipt of value which is within section 213, or would be within that section but for section 222, and
(b)has knowledge of any replacement value received (or expected to be received) because of a qualifying receipt,
the notice must include particulars of that receipt of replacement value (or expected receipt).
(4)In subsection (3) “qualifying receipt” and “replacement value” are to be read in accordance with section 222.