[175A The permitted maximum age requirement]
Income Tax Act 2007 (2007 c 3) | Legislation

[175A  The permitted maximum age requirement]

[(1)     The requirement of this section is that, if the relevant shares are issued after the initial investing period, condition A, B or C must be met.

(2)     “The initial investing period” means—

(a)     where the issuing company is a knowledge-intensive company at the issue date, the period of 10 years [beginning with—

(i)     the relevant first commercial sale, or

(ii)     if the issuing company so elects, the date by reference to which that company is treated as reaching an annual turnover of £200,000 (see section 252B),] and

(b)     in any other case, the period of 7 years beginning with that sale.

(3)     Condition A is that—

(a)     a relevant investment was made in the issuing company before the end of the initial investing period, and

(b)     some or all of the money raised by that investment was employed for the purposes of the relevant qualifying business activity (or a part of it).

(4)     Condition B is that—

(a)     the total amount of relevant investments made in the issuing company in a period of 30 consecutive days which includes the issue date is at least 50% of the average turnover amount, and

(b)

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