Part 5Enterprise investment scheme
Chapter 3General requirements
The requirements
174The purpose of the issue requirement
F1(1)
The relevant shares (other than any of them which are bonus shares) must be issued in order to raise money for the purpose of a qualifying business activity F2so as to promote business growth and development.
F3(2)
For this purpose “business growth and development” means the growth and development of—
(a)
if the issuing company is a single company, the business of that company, and
(b)
if the issuing company is a parent company, what would be the business of the group if the activities of the group companies taken together were regarded as one business.