The Offshore Funds (Tax) (Amendment) Regulations 2011

Amendment to regulation 67 (income from wholly-owned subsidiaries)

This adran has no associated Memorandwm Esboniadol

33.  In regulation 67 (income from wholly-owned subsidiaries) in paragraph (2)—

(a)in sub-paragraph (a) for “and beneficially” substitute “or indirectly”, and

(b)in sub-paragraph (b) after “directly” insert “or indirectly”.