[257HD Substitution of new shares for old shares]

[257HD  Substitution of new shares for old shares]

[(1)     Subsection (2) applies if, in the case of any new shares held by an individual to which SEIS relief becomes attributable under section 257HB, the old shares for which they were exchanged were subscribed for by and issued to the individual.

(2)     This Part has effect as if—

(a)     the new shares had been subscribed for by the individual at the time when, and for the amount for which, the old shares were subscribed for by the

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