Part 6Venture capital trusts

Chapter 5Powers: winding up and mergers of VCTs

Winding up

314Power to treat VCT-in-liquidation as VCT

1

Regulations may make provision for tax enactments specified by the regulations to have effect as if—

a

a VCT-in-liquidation that is not a VCT were, or were during any prescribed period of its winding up, a VCT,

b

VCT approval withdrawn from a company—

i

at any time during the period when it is a VCT-in-liquidation, or

ii

at any time during a prescribed part of that period,

were withdrawn at a prescribed time (and not at the time when it is actually withdrawn).

2

In this section “prescribed” means specified by, or determined under, regulations.