Section 316 — Income Tax Act 2007: Power to make provision about distributions by VCT-in-liquidation

Power to make provision about distributions by VCT-in-liquidation 316 1 Regulations may make provision for tax enactments specified by the regulations—

a to apply in relation to distributions from a VCT-in-liquidation (including, in particular, distributions in the course of dissolving it or winding it up),

b not to apply in relation to such distributions, c to apply in relation to such distributions with modifications specified by the regulations.

2 Provision under subsection (1) may be made so as to apply in relation to distributions from a VCT-in-liquidation made—

a at any time during its winding up, or b during periods of its winding up specified by, or determined under, regulations.