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The Authorised Investment Funds (Tax) Regulations 2006
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Draft Legislation:
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Authorised Investment Funds (Tax) Regulations 2006 No. 964
Modifications of section 272 of TCGA 1992
108.—(1) Section 272 of TCGA 1992 (valuation: general) is modified as follows.
(2) In subsection (3)(a) the words “where a single price is shown in the quotations for the shares or securities in The Stock Exchange Daily Official List on the relevant date, that price, or” are treated as inserted after “2 figures, or”.
(3) After subsection (5) the following subsection is treated as inserted—
“(5AA) In this Act “market value” in relation to shares of a given class in an open-ended investment company the prices of which are published regularly by the authorised corporate director of that company (whether or not those shares are also quoted in The Stock Exchange Daily Official List) shall mean an amount equal to the price so published on the relevant date, or if no price was published on that date, on the latest date before that date.”.
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