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2.—(1) Group 5 (finance) of Schedule 6 to the Value Added Tax Act 1983(1) shall be varied in accordance with the following paragraphs of this article.
(2) For item 6A there shall be substituted the following item –
“6A. The making of arrangements for or the underwriting of any transaction within item 6.”.
(3) After item 7 there shall be added the following item –
“8. The management of an authorised unit trust scheme or of a trust based scheme by the operator of the scheme.”.
(4) After Note 4 there shall be added the following Notes –
“(5) Item 6A includes the introduction to a person effecting transactions in securities or secondary securities within item 6 of a person seeking to acquire or dispose of such securities.
(6) In item 8 –
(a)“authorised unit trust scheme” and “operator” have the same meanings as in section 207(1) of the Financial Services Act 1986(2);
(b)“trust based scheme” has the same meaning as in regulation 2(1)(b) of the Financial Services Act 1986 (Single Property Schemes) (Exemption) Regulations 1989(3).”.
Relevant variatios to Group 5 were made by section 18 of the Finance Act 1987 (c. 16) and S.I. 1987/860.
S.I. 1989/28.
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