SCHEDULES

SCHEDULE 33Venture capital trusts

Part 1Venture capital trusts: winding up

2Power to treat VCT-in-liquidation as VCT

1

Regulations may make provision for tax enactments specified by the regulations to have effect as if—

a

a VCT-in-liquidation that is not a venture capital trust were, or were during any prescribed period of its winding-up, a venture capital trust;

b

VCT approval withdrawn from a company—

i

at any time during the period when it is a VCT-in-liquidation, or

ii

at any time during a prescribed part of that period,

were withdrawn at a prescribed time (and not at the time at which it is actually withdrawn).

2

In this paragraph “prescribed” means specified by, or determined under, regulations.