CITM2070 - Accreditation: Limit on qualifying investments
SI2003/96 Regulation 12
A Community Development Finance Institution’s (CDFI’s) application for accreditation will include details of the amount of funding that it anticipates to raise through the CITR scheme. If an accredited CDFI wishes to raise ‘qualifying investments’ (see CITM4005) exceeding 125% of the amount stated in the application which formed the basis for its accreditation it must provide the Department for Business and Trade (DBT) with at least one month’s notice of its intention to do so.
If a CDFI fails to provide the necessary notice, or DBT does not approve the proposed increase, DBT may treat some or all of the investments which exceed the 125% limit as not being ‘relevant investments’ for the purposes of SI2003/96 Regulation 8 (see CITM3005).