PART 3REPORTING FUNDS AND THE TREATMENT OF PARTICIPANTS IN REPORTING FUNDS

CHAPTER 5THE COMPUTATION OF REPORTABLE INCOME

Adjustments for special classes of income

Income from non-reporting funds if first case ceases to apply71

1

This regulation applies if—

a

a reporting fund has an interest in a non-reporting fund, and

b

the conditions in regulation 69(2) have been met for an earlier period of account but are no longer met for a later period of account.

2

Regulation 70 applies for the later period of account and for all subsequent periods of account.