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.