CITM3110 - Investment by CDFI: 'wholesale' CDFIs
SI2003/96 Schedule 1(11)
An investment by a wholesale Community Development Finance Institutions (CDFI) (see CITM2050) is not a ‘relevant investment’ for the purposes of SI2003/96 (see CITM3030) if as a consequence of that investment, and for so long as -
- the investment exceeds the lesser of
- 20% of the amount of the investment fund at the immediately preceding anniversary of the accreditation date, and
- £2,500,000, or
- the investment exceeds £250,000 and is made in a body other than a CDFI whose objective is to provide finance for enterprises within, or for, disadvantaged communities
The amount in the investment fund is calculated in accordance
with SI2003/96 Regulation 9 (see
CITM3010).
For investments made during the first year following
accreditation the 20% limit operates by reference to the amount of
the investment fund at the time the investment by the CDFI is
made.
