Section 238 | No claim after loss of accreditation by the CDFI

(1)If the CDFI ceases to be accredited under Chapter 2 of Part 7 of ITA 2007 with effect from a time within the 5 year period, no claim in respect of the investment may be made—

(a)for the relevant accounting period, or

(b)for any later accounting period.

(2)To find the relevant accounting period proceed under the rest of this section, in which references to the time of accreditation ceasing are to the time with effect from which the CDFI ceases to be accredited.

(3)If the time of accreditation ceasing falls within the first year of the 5 year period, the relevant accounting period is the accounting period in which the investment date fell.

(4)In any other case the relevant accounting period is—

(a)the accounting period in which the last anniversary of the investment date before the time of accreditation ceasing fell, or

(b)if the time of accreditation ceasing itself falls on an anniversary of the investment date, the accounting period in which that anniversary falls.