Section 273 | Interpretation of Chapter

(1)In this Chapter “eligible shares”, in relation to a company which is a VCT, means ordinary shares in the VCT which, throughout the period of 5 years beginning on the date on which they are issued, carry—

(a)no present or future preferential right to dividends or to a company's assets on its winding up, and

(b)no present or future right to be redeemed.

(2)In this Chapter references to a disposal of shares include references to a disposal of an interest or right in or over shares.