Schedule 16 - Community investment tax rlief
Finance Bill
10:45 am
Mr Rob Marris (Wolverhampton South West, Labour)
Will the Minister give us more information on the relationship between the five-year loan period and three-year accreditation period? I may be misreading the schedule, but paragraph 9(3) states that
''the loan must not have been made on terms that allow any person to require''
repayment within five years. If someone wants to invest in a CDFI, I would expect the investor to say, ''If accreditation isn't renewed, I shall want my money back.'' Although we want to encourage people to make loans, that would seem to fall foul of paragraph 9(3). Will the Minister explain the relationship?