[SCHEDULE 5B Enterprise Investment Scheme: Re-Investment]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[SCHEDULE 5B Enterprise Investment Scheme: Re-Investment]

Section 150C

[Application of Schedule

1

(1)     This Schedule applies where—

(a)     there would (apart from paragraph 2(2)(a) below) be a chargeable gain (“the original gainâ€) accruing to an individual (“the investorâ€) at any time (“the accrual timeâ€) on or after 29th November 1994;

(b)     the gain is one accruing either on the disposal by the investor of any asset or in accordance with [section 164F or 164FA,][section 169N,] paragraphs 4 and 5 below or paragraphs 4 and 5 of Schedule 5C;

(c)     the investor makes a qualifying investment; and

(d)     the investor is resident . . . in the United Kingdom at the accrual time and the time when he makes the qualifying investment and is not, in relation to the qualifying investment, a person to whom sub-paragraph (4) below applies.

[(2)     The investor makes a qualifying investment for the purposes of this Schedule if—

(a)     eligible shares in a company for which he has subscribed . . . are issued to him at a qualifying time and, where that time is before the accrual time, the shares are still held by the investor at the accrual time,

[(aza)     he subscribed for the shares

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