The permitted maximum age condition requires that for investments made on or after 18 November 2015, the company has not made and will not make an investment, in the relevant period, in a company which breaches the permitted maximum age limit.
Investments made after seven years beginning with the relevant first commercial sale (defined below) will breach the permitted maximum age limits unless either of the two conditions noted in the table below are met.
For a knowledge intensive company (KIC) the conditions apply for investments made after ten years beginning with the relevant first commercial sale or (after 6 April 2018) from the date the company is treated as reaching an annual turnover of £200,000 if the company so elects (see below)1. For more on KICs see E3.137.
| Conditions to prevent breach of age: | Commentary |
| Condition A | There was an earlier relevant investment (see E3.255) in the relevant company which was within the seven/ ten year period ('initial investing period') and the money raised was used for the same qualifying |
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