VCM54182 - VCT: VCT approval: minimum investment on further issue condition
ITA07/S274(2) and S280BA
»Ê¹ÚÌåÓýapp minimum investment on further issue condition applies where an approved VCT with issued share capital subsequently issues more shares in an accounting period beginning on or after 6 April 2018
»Ê¹ÚÌåÓýapp VCT is then required to invest at least 30% of the money raised in qualifying shares or securities within 12 months following the end of the accounting period in which that later share issue takes place.
»Ê¹ÚÌåÓýapp purpose of this condition is to encourage VCTs to invest funds raised more quickly.