Capital Trusts definition

Capital Trusts means, collectively, Capital Trust II and other similar special purpose vehicles established by the Borrower, of which the Borrower holds all of the common securities and other securities having the power to vote generally, which special purpose vehicle issues Capital Securities.

Capital Trusts means, collectively, Capital Trust I, Capital Trust II and other similar special purpose vehicles established by the Borrower, of which the Borrower holds all of the common securities and other securities having the power to vote generally, which special purpose vehicle issues Capital Securities.

Capital Trusts shall have the meaning set forth in Section 6.14.

Examples of Capital Trusts in a sentence

• Venture Capital Trusts are not subject to corporation tax on capital gains.

• Venture Capital Trusts provide private investors with an attractive and tax-efficient method of investing in a portfolio of small to medium-size trading companies in the UK.

• Legislation changes for Venture Capital Trusts (“VCTs”) prevent further investment by the Company in electricity generation projects.

• Transactions in a Covered Account which must be notified to the Compliance department for pre-clearance, regardless of whether the order is placed directly or through a broker/adviser, include the following (“Covered Securities”): • buys or sales of ordinary securities, equivalent securities, venture capital schemes such as Venture Capital Trusts (VCTs), Investment Trusts and Exchange Traded Funds (ETFs), including any of these investments which are held within a product/wrapper.

• The Ordinary Shares do not rank as a “qualifying investment” for the purposes of the Enterprise Investment Scheme nor as a “qualifying holding” for the purposes of investment by Venture Capital Trusts.

• It is normal practice for Venture Capital Trusts to delegate authority for day‐to‐day management and administration of the Company to third parties.

• Basis of accounting The financial statements have been prepared under the Companies Act 2006, and in accordance with United Kingdom Generally Accepted Accounting Practice (UK GAAP) and the Statement of Recommended Practice (SORP): Financial Statements of Investment Trust Companies and Venture Capital Trusts issued in January 2009.

• Research into the Enterprise Investment Scheme and Venture Capital Trusts.

• Venture Capital Trusts, which are specific to the UK, operate differently from limited partnerships as 100% of the commitment is called at the outset, and the vehicles are listed on The London Stock Exchange.

• Basis of accounting These financial statements have been prepared under UK Generally Accepted Accounting Practice (‘UK GAAP’) and in accordance with guidelines set out in the Statement of Recommended Practice (‘SORP’), dated January 2009, for investment trust companies and Venture Capital Trusts issued by the Association of Investment Companies (‘AIC’).