[257MNB Section 257MNA: supplementary]
Income Tax Act 2007 (2007 c 3) | Legislation

[257MNB  Section 257MNA: supplementary]

[(1)     In section 257MNA(2) the reference to relevant investments “made in the social enterprise” includes—

(a)     relevant investments made in a company which, at the material date, is or has been a 51% subsidiary of the social enterprise,

(b)     any other relevant investment made in a company to the extent that the money raised by that relevant investment has been employed for the purposes of a trade carried on by another company (“company X”) which, at the material date, is or has been a 51% subsidiary of the social enterprise, and

(c)     any other relevant investment made in a company if—

(i)     the money raised by that relevant investment has been employed for the purposes of a trade carried on by that company or another person, and

(ii)     after that relevant investment

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