Section EX 37B — Income Tax Act 2007: Share in grey list company acquired under venture investment agreement

EX 37B Share in grey list company acquired under venture investment agreement A person's rights in a FIF in an income year are not an attributing interest if— (a) the FIF is a grey list company; and (b) the person first acquires a share or option to buy a share in the company— (i) under a venture investment agreement; and (ii) at the same time and on the same terms as an acquisition of an interest in the FIF by the Venture Investment Fund or a company owned by the Venture Investment Fund. Defined in this Act: attributing interest , company , FIF , grey list company , income year , share Compare: 2004 No 35 s EX 37(4B) Section EX 37B: inserted, on 1 April 2008, by section 389 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).