251 Approved [knowledge-intensive fund] as nominee
Income Tax Act 2007 (2007 c 3) | Legislation

251  Approved [knowledge-intensive fund] as nominee

(1)     [This section applies] if an individual claims EIS relief in respect of shares in a company at a time when—

(a)     the shares have been issued to the managers of [an approved knowledge-intensive fund] as nominee for the individual,

(b)     the fund has closed, that is to say, no further investments in the fund are to be accepted, . . .

(c)     the amounts which the managers have, as nominee for the individual, subscribed for shares issued within [12] months after the closing of the fund represent at least [50%] of the individual's investment in the fund,

[(d)     the amounts which the managers have, as nominee for the individual, subscribed for shares issued within 24 months after the closing of the fund represent at least 90% of the individual's investment in the fund,

(e)     within that 24 month period at least 80% of the individual's investment in the fund is represented by shares in companies which are knowledge-intensive companies at the

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