E3.825 The issuing company must meet certain requirements
Where the requirements that apply to the issuing company are met, such a company is a qualifying company in relation to the shares. Many of the requirements are very similar to those imposed under EIS. The table below summarises of the key issues in regards to SEIS (with legislative references) and also points to the full discussion of the equivalent similar requirement for EIS.
| Requirements to be met by the issuing company1: | Summary of SEIS provisions and references to the full discussion of similar requirements for EIS: |
| The trading requirement | The issuing company, ignoring any incidental purposes should exist wholly for the purpose of carrying on a new qualifying trade (or trades) throughout period B (see E3.801)2.
For more on the details of this provision see E3.826.
See E3.129 for the EIS article with the full discussion. |
| The qualifying business activity requirement | Throughout period B, a new qualifying trade (see E3.826) and any preparation work or research and development leading to it, must |
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