Part 6

Venture capital trusts
Chapter 4

Qualifying holdings

Supplementary

Winding up of the relevant company
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None of the requirements of this Chapter is to be regarded, at a time when the relevant company is being wound up, as being, on that account, a requirement that is not met in relation to that company if—
a
the requirements of this Chapter would be met in relation to that company apart from the winding up, and
b
the winding up is for genuine commercial reasons, and is not part of a scheme or arrangement the main purpose or one of the main purposes of which is the avoidance of tax.