176 The minimum period requirement
Income Tax Act 2007 (2007 c 3) | Legislation

176  The minimum period requirement

(1)     The issue of shares which includes the relevant shares must meet—

(a)     the requirement of subsection (2) in a case where the money raised by an issue of shares is raised wholly for the purpose of a qualifying business activity falling within section 179(2),

(b)     the requirement of subsection (3) in a case where the money raised by an issue of shares is raised wholly or partly for the purpose of a qualifying business activity falling within section 179(4).

(2)     The requirement is that—

(a)     the trade concerned must have been carried on for a period of at least 4 months ending

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