[Home] [Databases] [World Law] [Multidatabase Search] [Help] [Feedback]
	United Kingdom Statutory Instruments
You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Authorised Investment Funds (Tax) (Amendment) Regulations 2007 No. 683 URL: http://www.bailii.org/uk/legis/num_reg/2007/20070683.html

[New search] [Help]

    " (1) This regulation applies if—


(a) conditions A to C are met, and

(b) either condition D or E is met.".

    (3) In paragraph (6) after "But" insert "for the purposes of paragraph (5)".

    (4) Insert the following paragraph after paragraph (6)—

    " (6A) Condition E is that the participant is a financial trader who—


(a) owns units which represent rights to 10% or more of the net asset value of the authorised investment fund, and

(b) does not own those units as a nominee or bare trustee.".

    (5) For paragraph (11) substitute—

    " (11) In this regulation—


"financial trader" means a participant who meets condition C (see paragraph (4));
"long-term business" and "long-term insurance fund" have the same meanings as in Chapter 1 of Part 12 of ICTA (insurance companies etc.).".

Frank Roy

Claire Ward
Two of the Lords Commissioners of Her Majesty's Treasury

6th March 2007

[2] S.I. 2006/964; regulation 52A was inserted by S.I. 2006/3239.back

 © Crown copyright 2007