CITM5005 - General conditions applying to investors and investments: Outline
The CITR scheme imposes a number of general conditions that must be satisfied by investors and investments. These conditions are that:
the investor must not control the community development finance institution (CDFI) |
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the investor must beneficially own the investment |
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the investor must not be an accredited CDFI |
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where the CDFI is constituted as a partnership, the investment must not consist of capital contributed by the investors on becoming members of the CDFI, and |
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the investment must not be part of a tax avoidance scheme |
