- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Offshore Funds (Tax) Regulations 2009 No. 3001
117.—(1) This regulation applies if—
(a)a reporting fund gives a notice under regulation 116, and
(b)the fund has not complied with all requirements imposed in this Part for all periods during which it was a reporting fund.
(2) For the purposes of these Regulations the fund is treated as a fund to which regulation 114 has applied and not as a fund to which regulation 116 has applied.
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