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  1. Introductory Text

  2. PART 1

    1. Preliminary provisions

      1. 1.Citation, commencement and effect

      2. 2.Structure of these Regulations

    2. Interpretation

      1. 3.Definition of “authorised investment funds”

      2. 4.Definition of “open-ended investment company”

      3. 5.Interpretation of expressions relating to authorised unit trust schemes

      4. 6.Further definitions generally relevant for authorised investment funds

      5. 7.Umbrella companies and umbrella schemes: interpretation

      6. 8.General interpretation

      7. 9.Abbreviations and general index

  3. PART 2

    1. Loan relationships and derivative contracts: exclusion of capital profits, gains or losses

      1. 10.General rule for loan relationships: exclusion of capital profits, gains or losses

      2. 11.General rule for derivative contracts: exclusion of capital profits, gains or losses

      3. 12.Accounts prepared in accordance with UK generally accepted accounting practice

    2. Loan relationships: treatment of interest distributions and deficits

      1. 13.Treatment of interest distributions for purposes of loan relationships

      2. 14.Treatment of deficits on loan relationships

  4. PART 3

    1. Preliminary

      1. 15.Interpretation

      2. 16.Funds excluded from the ambit of this Part

    2. Distribution accounts: general

      1. 17.Contents of distribution accounts

    3. Interest distributions

      1. 18.Interest distributions: general

      2. 19.The qualifying investments test

      3. 20.Meaning of “qualifying investments”

      4. 21.Meaning of “qualifying investments”: further provisions

    4. Dividend distributions

      1. 22.Dividend distributions: general

    5. De minimis amounts

      1. 23.Provisions applying if amounts available for distribution are de minimis

  5. PART 4

    1. CHAPTER 1

      1. 24.Structure of this Part

      2. 25.Funds excluded from the ambit of this Part

    2. CHAPTER 2

      1. Deduction of tax from interest distributions: general

        1. 26.Deduction of tax where interest distributions made

      2. The reputable intermediary condition

        1. 27.The reputable intermediary condition

        2. 28.The reputable intermediary condition: further provisions

        3. 29.Consequences of reasonable but incorrect belief

      3. The residence condition

        1. 30.The residence condition

        2. 31.Residence declarations

        3. 32.References to beneficiaries in regulations 30 and 31

        4. 33.Interest distributions: the position of the legal owner

      4. The non-liability condition

        1. 34.The non-liability condition

        2. 35.Qualifying certificates

        3. 36.The contents condition

        4. 37.The supplier condition

        5. 38.The time limit condition

        6. 39.The continuing validity condition

        7. 40.The qualifying circumstances condition

        8. 41.The joint holding condition

        9. 42.Qualifying certificates valid for only part of jointly held accounts: introductory

        10. 43.Qualifying certificates valid for only part of jointly held accounts: the general rule

        11. 44.Qualifying certificates valid for only part of jointly held accounts: further provisions

        12. 45.Consequences of notice under regulation 39(6)

        13. 46.Qualifying certificate not in writing

    3. CHAPTER 3

      1. Interest distributions

        1. 47.The obligation to deduct tax

      2. Dividend distributions

        1. 48.General

        2. 49.Calculation of unfranked part of dividend distribution

        3. 50.References to gross income

        4. 51.Cases where participant is the manager of the fund

        5. 52.Repayments of tax

    4. CHAPTER 4

      1. General

        1. 53.Charge to tax under this Chapter

        2. 54.Meaning of “substantial QIS holding”

        3. 55.Amount charged to tax under this Chapter

        4. 56.Measuring dates and meaning of “chargeable measuring date”

        5. 57.How tax is charged under this Chapter: income tax

        6. 58.How tax is charged under this Chapter: corporation tax

        7. 59.Further provisions

      2. The first measuring date

        1. 60.The general rule

        2. 61.Cases affected by the coming into force of these Regulations

        3. 62.Cases involving the launch of qualified investor schemes

        4. 63.Cases where a participant’s holding becomes substantial

        5. 64.Definition of the “first measuring date”

        6. 65.Calculation to be made on the first measuring date

      3. Disposals of holdings

        1. 66.Reorganisations etc.

        2. 67.Disposal of part of a substantial QIS holding

        3. 68.Disposal of the whole of a substantial QIS holding

        4. 69.No gain/no loss disposals

  6. PART 5

    1. Information relating to distributions

      1. 70.Application of section 234A of ICTA

    2. Interest distributions

      1. 71.Notification of interest distributions made without deduction of tax

      2. 72.Information about interest distributions made without deduction of tax

      3. 73.Inspection of records

      4. 74.Use of information

    3. Residence declarations

      1. 75.Inspection of residence declarations

  7. PART 6

    1. CHAPTER 1

      1. 76.Ownership of shares of different denominations in open-ended investment companies

      2. 77.Non-discrimination in respect of different classes of shares

    2. CHAPTER 2

      1. 78.Circumstances in which this Chapter applies

      2. 79.Ending of accounting period of the target trust

      3. 80.Carrying forward of excess management expenses

      4. 81.Distributions by authorised unit trust after the end of its pre-transfer accounting period

      5. 82.Continuing validity of residence declarations

      6. 83.Powers of the acquiring company

      7. 84.Assessments made on discovery

      8. 85.Prevention of double relief

  8. PART 7

    1. CHAPTER 1

      1. 86.Introduction

      2. 87.Amendments of TMA 1970

      3. 88.Amendment of ICTA

      4. 89.Amendment of TCGA 1992

      5. 90.Amendment of FA 1996

      6. 91.Amendments of ITTOIA 2005

      7. 92.Amendment of the Finance Act 2005

    2. CHAPTER 2

      1. 93.Introduction

      2. 94.Modifications of ICTA

      3. 95.Modifications of FA 1996

      4. 96.Modifications of ITTOIA 2005

    3. CHAPTER 3 TCGA

      1. Preliminary

        1. 97.Introduction

      2. General

        1. 98.Application of TCGA 1992: general

      3. General modifications of TCGA 1992

        1. 99.General modifications: introduction

        2. 100.General modification: authorised unit trust

        3. 101.General modification: manager of authorised unit trust

        4. 102.General modification: unit in authorised unit trust

        5. 103.General modification: accumulation units in authorised unit trusts

        6. 104.General modification: holder of unit in authorised unit trust

      4. Specific modifications of TCGA 1992

        1. 105.Modification of section 99 of TCGA 1992

        2. 106.Insertion of section 99AA of TCGA 1992

        3. 107.Modification of section 170 of TCGA 1992

        4. 108.Modifications of section 272 of TCGA 1992

        5. 109.Modifications of section 288 of TCGA 1992

        6. 110.Modification of Schedule A1 to TCGA 1992

  9. PART 8

    1. 111.Instruments revoked

  10. Signature

    1. SCHEDULE

      Abbreviations and Defined Expressions

      1. PART 1 Abbreviations of Acts

      2. PART 2 Index of expressions defined or otherwise explained in these Regulations

  12. Explanatory Note