Tax treatment of open-ended investment companies—general
3.—(1) Subject to the modifications and exceptions specified in this Part, and the modifications specified in Parts III to V, of these Regulations, the enactments specified in paragraph (3) shall have effect in relation to—
(a)open-ended investment companies,
(b)holdings in, and the assets of, such companies, and
(c)transactions involving such companies,
in like manner as the manner in which they have effect in relation to authorised unit trusts, to rights under, and the assets subject to, such trusts and to transactions for purposes connected with such trusts.
(2) References in the enactments specified in paragraph (3) to companies, to holdings in, and the assets of, companies and to transactions involving companies, shall accordingly have effect (or shall not have effect as the case may be) in relation to open-ended investment companies, to holdings in, and the assets of, such companies, and to transactions involving such companies, in like manner as the manner in which they have effect (or do not have effect) in relation to authorised unit trusts, to rights under, and the assets subject to, such trusts, and to transactions for purposes connected with such trusts.
(3) The enactments specified in this paragraph are—
(a)the Tax Acts, and
(b)the 1992 Act.