Statute
Section 352 — Income Tax Act 2007: No acquisition of share in partnership
Text of the provision Official document
No acquisition of share in partnership 352 1 If the CDFI is a partnership, the investment must not consist of or include any amount of capital contributed by the investor on becoming a member of the partnership.
2 For this purpose the amount of capital contributed by the investor on becoming a member of the partnership includes any amount which—
a purports to be provided by the investor by way of loan capital, and b is accounted for as partners' capital in the accounts of the partnership.
Official source: legislation.gov.uk
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