[257HB Continuity of SEIS relief where issuing company is acquired by new company]
Income Tax Act 2007 (2007 c 3) | Legislation

[Acquisition of issuing company]

[257HB  Continuity of SEIS relief where issuing company is acquired by new company]

[(1)     This section applies if—

(a)     a company (“the new company”) in which the only issued shares are subscriber shares acquires all the shares (“old shares”) in another company (“the old company”),

(b)     the consideration for the old shares consists wholly of the issue of shares (“new shares”) in the new company,

(c)     the consideration for the new shares of each description consists wholly of old shares of the corresponding description,

(d)     new shares of each description are issued to the holders of old shares of the corresponding description

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