Commentary on Sections Overview Overview Section 283: Time as from which VCT approval has effect
849.This section explains when a VCT approval takes effect. It is based on section 842AA(1) of ICTA.
850.Paragraph (a) of section 842AA(1) of ICTA, which refers to an approval given in 1995-96, has not been rewritten.
851.Section 842AA(1) and (4)(b) of ICTA, and regulation 4(2)(b) of SI 1995/1979, make it clear that the date from which approval has effect is not necessarily the date on which approval is given. Subsection (3) notes that an approval can be forward-dated as well as back-dated.