SCHEDULES
SCHEDULE 18Enterprise investment scheme
Part 2Deferral relief
13
1
In paragraph 1(2) (definition of qualifying investment)—
a
in paragraph (a), omit “wholly in cash”,
b
after that paragraph insert—
aza
he subscribed for the shares (other than any of them which are bonus shares) wholly in cash,
c
in paragraph (c), for the words from “are fully” to “future date)” substitute “
(other than any of them which are bonus shares) are fully paid up
”
,
d
in paragraph (e), after “Act” insert “
(read with section 289(1B) to (1E) of that Act)
”
,
e
in paragraph (f), for “all the shares comprised in the issue” substitute “
the shares (other than any of them which are bonus shares)
”
,
F1f
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
After paragraph 1(4) of that paragraph insert—
5
Shares are not fully paid up for the purposes of sub-paragraph (2)(c) above if there is any undertaking to pay cash to any person at a future date in respect of the acquisition of the shares.