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The Community Investment Tax Relief (Accreditation of Community Development Finance Institutions) Regulations 2003
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General Investments
2.—(1) Any loan to a profit-distributing enterprise—
(a)which is not made on terms that are equivalent to those offered by conventional sources of finance, or
(b)as a consequence of which, and for so long as, the total amount of loans to that enterprise exceeds £100,000 (“the £100,000 limit”).
(2) Where the £100,000 limit is exceeded—
(a)by two or more loans made on the same day, or
(b)in any other circumstances where it is not possible to establish which loan caused the limit to be exceeded,
the Investment Director shall determine which of those loans shall not constitute relevant investments so that the amount of relevant investments in the enterprise approximates to but does not exceed the £100,000 limit.
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