Commentary on Sections Overview Overview Section 204: Compliance certificates
661.This section says what compliance certificates are and deals with matters associated with their issue to investors (including the pre-condition that the issuing company gives a compliance statement to HMRC). It is based on section 306(2), (3) and (4) of ICTA.
662.The compliance certificate is commonly known as an EIS 3, the form provided by HMRC for the issuing company to issue to its investors.
663.The reference to requirements for EIS relief being “for the time being met” in subsection (1)(b) is new. There is an explanation in Change 57 in Annex 1.
664.Subsection (5) requires an officer of Revenue and Customs to notify the officer’s decision on a request by the issuing company for permission to issue a compliance certificate. See Change 47 in Annex 1.