Part 7Community investment tax relief

Chapter 3General conditions

234No acquisition of share in partnership

1

If the CDFI is a partnership, the investment must not consist of or include any amount of capital contributed by the investor on becoming a member of the partnership.

2

For this purpose the amount of capital contributed by the investor on becoming a member of the partnership includes any amount which—

a

purports to be provided by the investor by way of loan capital, and

b

is accounted for as partners' capital in the accounts of the partnership.