259Venture capital trusts and VCT approvalsU.K.
This section has no associated Explanatory Notes
(1)In this Part “venture capital trust” means a company which—
(a)is not a close company, and
(b)is for the time being approved for the purposes of this Part by the Commissioners for Her Majesty's Revenue and Customs (see Chapter 3),
and “VCT” means a venture capital trust.
(2)In this Part “VCT approval” means an approval of a company for the purposes of this Part.