541(1)Amend section 547 (income tax chargeable on income treated as received from unauthorised unit trust) as follows.U.K.
(2)In subsection (1) for the words from “scheme” to the end substitute “ unit trust scheme to which this section applies ”.
(3)After subsection (2) insert—
“(3)This section applies to a unit trust scheme if—
(a)the scheme is an unauthorised unit trust, and
(b)the trustees of the scheme are UK resident.”