[257L Investment to be in new shares or new qualifying debt investments]
Income Tax Act 2007 (2007 c 3) | Legislation

[Chapter 3
Eligibility: Conditions Relating to the Investor and the Investment]

[257L  Investment to be in new shares or new qualifying debt investments]

[(1)     At all times during the shorter applicable period, the investment must be in—

(a)     shares that meet conditions A and B and are issued to the investor by the social enterprise in return for the amount invested, or

(b)     qualifying debt investments of which the investor is the holder in return for advancing the amount invested to the social enterprise.

(2)     Condition A is that the shares must carry none of the following—

(a)     a right to a return which, or any part of which, is a fixed amount;

(b)     a right to a return which,

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