Part 6

Venture capital trusts
Chapter 5

Powers: winding up and mergers of VCTs

Winding up

Power to make provision about distributions by VCT-in-liquidation
316
1
Regulations may make provision for tax enactments specified by the regulations—
a
to apply in relation to distributions from a VCT-in-liquidation (including, in particular, distributions in the course of dissolving it or winding it up),
b
not to apply in relation to such distributions,
c
to apply in relation to such distributions with modifications specified by the regulations.
2
Provision under subsection (1) may be made so as to apply in relation to distributions from a VCT-in-liquidation made—
a
at any time during its winding up, or
b
during periods of its winding up specified by, or determined under, regulations.