[280B The investment limits condition]
Income Tax Act 2007 (2007 c 3) | Legislation

[280B  The investment limits condition]

[(1)     This section applies for the purposes of the investment limits condition.

(2)     Where a company (“the investor”) makes an investment (“the current investment”) in another company (“the relevant company”), that investment breaches the permitted investment limits [if one or more of the following applies—

(a)     the total annual investment in the relevant company exceeds the amount for the time being specified in section 292A(1);

(b)     the total investment in the relevant company at the investment date exceeds the amount specified in—

(i)     if the relevant company is a knowledge-intensive company (see section 331A) at the investment date, section 292AA(1)(a), and

(ii)     in any other case, section 292AA(1)(b);

(c)     condition A or B is met and the total investment in the relevant company at any time during the 5-year post-investment period exceeds the amount specified in—

(i)     if the relevant company is a knowledge-intensive company at the investment date, section 292AB(4)(a), and

(ii)     in any other case, section 292AB(4)(b)].

[(2A)     In this section—

“the investment date” means the date the current investment is made;

“the 5-year post-investment period” means the period of 5 years beginning with the day after the investment date.]

[(3)

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