Section 27 | EIS, VCTs etc: excluded activities

(1)In section 192 of ITA 2007 (excluded activities for the purposes of sections 181 and 189 (and, by virtue of section 257HF(2), Part 5A)), in subsection (1)—

(a)in paragraph (kb), omit the final “and”;

(b)after paragraph (kb) insert—

(kc)making reserve electricity generating capacity available (or, where such capacity has been made available, using it to generate electricity), and

.

(2)In section 303 of ITA 2007 (excluded activities for the purposes of sections 290 and 300), in subsection (1)—

(a)in paragraph (kb), omit the final “and”;

(b)after paragraph (kb) insert—

(kc)making reserve electricity generating capacity available (or, where such capacity has been made available, using it to generate electricity), and

.

(3)The amendment made by subsection (1) has effect in relation to shares issued on or after 30 November 2015.

(4)The amendment made by subsection (2) has effect in relation to relevant holdings issued on or after 30 November 2015.