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).
(2)
The Treasury may by regulations provide that a unit trust scheme within the meaning given by section 237 of FISMA 2000 is not to be a unit trust scheme for the purposes of this section if the scheme 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).