Taxes Consolidation Act 1997 section 493

Interpretation (Chapter 3)

Section 493 defines key terms used in relation to qualifying investments for the purposes of the employment investment incentive scheme (EIIS).

• A business plan must be a detailed written document setting out product development, sales projections, profitability forecasts and an assessment of financial viability, including both quantitative and qualitative information about the activities the investment will support.
• An expansion risk finance investment is an issue of eligible shares to fund a new economic activity, as provided for under the General Block Exemption Regulations.
• A follow-on risk finance investment is an issue of eligible shares made after an initial risk finance investment or an expansion risk finance investment, as provided for under the General Block Exemption Regulations.
• An initial risk finance investment is the first issue of eligible shares, other than an expansion risk finance investment, as provided for under the General Block Exemption Regulations.