Finance Act 2002 (c. 23)

SCHEDULES

SCHEDULE 33 Venture capital trusts

Part 1 Venture capital trusts: winding up

Power to make provision about distributions by VCT-in-liquidation

4 (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.