SCHEDULES
SCHEDULE 18

Venture capital trusts: amendments
Section 65.
Part I

Reduction of applicable periods

Relief from income tax
1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Deferred CGT charge on reinvestment
2
In Schedule 5C to the Taxation of Chargeable Gains Act 1992 (venture capital trusts: deferred charge on re-investment), in paragraph 3(2), in the definition of “the relevant period" for “five" substitute “ three ”.

Commencement
3
The amendments made by this Part of this Schedule have effect in relation to shares issued on or after 6th April 2000.
Part II

Qualifying holdings

Introductory
4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Qualifying trade: receipt of royalties or licence fees
5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Meaning of “research and development"
6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Company in administration or receivership
7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Company reorganisations et ceteralaetc. involving exchange of shares
8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1992 c. 12.
Sch. 18 para. 1 repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)
Sch. 18 Pt. II repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)