Part 16Income Tax Acts definitions etc
Chapter 1Definitions
1007Meaning of “unit trust scheme”
1
In the Income Tax Acts “unit trust scheme” has the meaning given by section 237 of FISMA 2000.
This is subject to subsection (2).
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The Treasury may, in relation to a unit trust scheme within the meaning given by section 237 of FISMA 2000 whose trustees are UK resident, by regulations provide that the scheme is not to be a unit trust scheme for the purposes of the definition in section 989 of “unauthorised unit trust” if it is within a specified description.
3
The regulations may contain incidental, supplemental, consequential and transitional provision and savings.
4
This section does not apply for the purposes of section 558 (approved charitable investments).