Section 283 | Time as from which VCT approval has effect

(1)A VCT approval has effect as from the time specified in the approval.

(2)That time, if it falls before the time when the VCT approval is given, must be no earlier than the time when the application was made.

(3)If the Commissioners for Her Majesty's Revenue and Customs give a VCT approval, they may stipulate that the approval is to have effect as from the time when the application for the approval was made or any subsequent time.