Schedule 8
Finance Bill
6:15 pm
Angela Eagle (Parliamentary Secretary, HM Treasury; Wallasey, Labour)
I beg to move amendment 13, in schedule 8, page 101, line 4, leave out from beginning to ‘is’ in line 5 and insert—
‘A1 Schedule 5B to TCGA 1992 (enterprise investment scheme: re-investment) is amended as follows.
A2 (1) Paragraph 1(2) (application of Schedule) is amended as follows.
(2) For paragraphs (g) and (h) substitute “and
(g) all of the money raised by the issue of the shares (other than any of them which are bonus shares) is, no later than the time mentioned in section 175(3) of ITA 2007, employed wholly for the purpose of that activity,”.
(3) In the words following the paragraphs, for “conditions in paragraphs (g) and (h) above do” substitute “condition in paragraph (g) above does”.
A3 (1) Paragraph 1A (failure of conditions of application) is amended as follows.
(2) In sub-paragraph (4)—
(a) omit “or (h)”, and
(b) for “sub-paragraph (4A) below” substitute “section 175(3) of ITA 2007”.
(3) Omit sub-paragraph (4A).
1 (1) Paragraph 9 (other reconstructions and amalgamations)’.