Commentary on Sections Overview Overview Section 176: The minimum period requirement
583.This section requires that the companies mentioned in subsection (2) must carry on the qualifying business activity for a certain period of time. It is based on section 289A(6) to (8A) of ICTA.
584.Subsection (1) makes the requirements of this section a condition of eligibility for EIS relief instead of, as in section 289A(6) of ICTA, a condition for claiming the relief. See Change 40 in Annex 1.
585.Subsections (2) and (3) refer to “at or after the time of the issue” to make more obvious the fact that the period in question may end after the share issue has occurred.