SCHEDULES
SCHEDULE 33Venture capital trusts
Part 1Venture capital trusts: winding up
4Power to make provision about distributions by VCT-in-liquidation
1
Regulations may make provision for tax enactments specified by the regulations—
a
to apply in relation to distributions from a VCT-in-liquidation (including, in particular, distributions in the course of dissolving it or winding it up);
b
not to apply in relation to such distributions;
c
to apply in relation to such distributions with modifications specified by the regulations.
2
Provision under sub-paragraph (1) may be made so as to apply in relation to distributions from a VCT-in-liquidation made—
a
at any time during its winding-up, or
b
during periods of its winding-up specified by, or determined under, regulations.