VCM54410 - VCT: VCT approval: withdrawal of approval: breach of approval conditions
SI1995/1979 Regulation 8
Where the VCT has full approval, and:
- any of the conditions for approval (see VCM54020) cease to be met; or
- a resolution is passed or a petition presented to wind the company up,
the company must notify CTIAA (Structure, Incentives & Reliefs team) in writing immediately.
Where the VCT has provisional approval, and:
- any of the conditions for provisional approval (see VCM54030) are not met; or
- after meeting the conditions for provisional approval any of the conditions for full approval (see VCM54020) cease to be met; or
- a resolution is passed or a petition presented to wind the company up,
the company must notify CTIAA (Structure, Incentives & Reliefs team) in writing immediately.
Where there has been a breach outside of the VCT’s control of the 70% test, see VCM54350.