SCHEDULES

SCHEDULE 18Enterprise investment scheme

Part 2Deferral relief

16

1

In paragraph 13 (value received by investor) in sub-paragraph (2)(b)(i), for “on which he subscribed for the shares” substitute “ of issue of the shares ”.

2

Subject to sub-paragraph (3), the amendment made by this paragraph has effect in relation to shares issued on or after 17th March 2004.

3

The amendment made by this paragraph does not have effect in relation to the repayment of a debt incurred before 17th March 2004 if—

a

the shares were subscribed for before that date, and

b

the debt was incurred on or after the date on which the shares were subscribed for.