Part 2

Plant and machinery allowances
Chapter 20

Supplementary provisions
Co-ownership
... contractual schemes

Co-ownership schemes: definitions relating to schemes
262AF
In sections 262AA to 262AE and this section—
- “
co-ownership authorised contractual scheme
” means a co-ownership scheme which is authorised for the purposes of the Financial Services and Markets Act 2000 by an authorisation order in force under section 261D(1) of that Act;
- “
co-ownership contractual scheme
” means—
  1. a co-ownership authorised contractual scheme, or
  2. a Reserved Investor Fund (Contractual Scheme);
- “
co-ownership scheme
” has the same meaning as in Part 17 of that Act (see section 235A(2) of that Act);
- “operator” and “
units
”, in relation to a co-ownership
...contractual scheme, have the meanings given by section 237(2) of that Act;
- “
participant
”, in relation to such a scheme, is to be read in accordance with section 235 of that Act.
- “
Reserved Investor Fund (Contractual Scheme)
” has the meaning given by section 20 of F(No.2)A 2024;
- “
unauthorised co-ownership contractual scheme
” means a co-ownership scheme which is not a co-ownership contractual scheme
.
Pt. 2 modified (24.2.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 10 para. 12 (with Sch. 10 para. 17(1)); S.I. 2003/120, art. 2, Sch. (with arts. 3 4) (as amended (20.2.2003) by S.I. 2003/333, art. 14)
S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7
Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 4 para. 4 ; S.I. 2004/2575 , art. 2(1) , Sch. 1
Pt. 2 modified (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 9(2), 21(2) (with s. 38(2)); S.I. 2004/2575, art. 2(1) , Sch. 1
Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 10, 22 (with s. 38(2) ); S.I. 2004/2575 , art. 2(1) , Sch. 1
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 19
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 35
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 paras. 36, 37
Pt. 2 modified (21.7.2009) by Finance Act 2009 (c. 10), s. 24
Pt. 2 modified (17.7.2013) by Finance Act 2013 (c. 29), s. 73(7)-(11) (with s. 73(6))
Ss. 262AA-262AF and cross-heading inserted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), s. 40
Pt. 2 modified (10.6.2021) by Finance Act 2021 (c. 26), s. 9(1)(a)
Word in s. 262AA cross-heading omitted (19.3.2025) by virtue of The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 55(2) (with reg. 63)
Word in s. 262AF omitted (19.3.2025) by virtue of The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 55(9)(a) (with reg. 63)
Words in s. 262AF inserted (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 55(9)(b) (with reg. 63)