287 The maximum qualifying investment requirement
Income Tax Act 2007 (2007 c 3) | Legislation

287  The maximum qualifying investment requirement

(1)     The requirement of this section is that[, if the condition in subsection (1A) is met,] the relevant holding did not, when it was issued, represent an investment in excess of the maximum qualifying investment for the relevant period.

[(1A)     The condition is that—

(a)     at the time of the issue of the relevant holding the relevant company or any of its qualifying subsidiaries was a member of a partnership or a party to a joint venture,

(b)     the trade which meets the requirement of section 291 was at that time being carried on, or to be carried on, by those partners in

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