Part 6

Venture capital trusts
Chapter 2

VCT relief

Supplementary

Interpretation of Chapter
273
1
In this Chapter “eligible shares”, in relation to a company which is a VCT, means ordinary shares in the VCT which, throughout the period of 5 years beginning on the date on which they are issued, carry—
a
no present or future preferential right to dividends or to a company's assets on its winding up, and
b
no present or future right to be redeemed.
2
In this Chapter references to a disposal of shares include references to a disposal of an interest or right in or over shares.