http://www.legislation.gov.uk/ukpga/2007/3/section/432Income Tax Act 2007An Act to restate, with minor changes, certain enactments relating to income tax; and for connected purposes.texttext/xmlenStatute Law Database2026-08-13Expert Participation2026-07-15 Income Tax Act 2007s. 788(7)Legal Services Act 2007Sch. 21 para. 161(b)s. 29 192 193s. 211(2)art. 2(h) Part 8Chapter 34321In this Chapter “qualifying investment” means—ashares or securities which are listed on a recognised stock exchange or dealt in on any designated market in the United Kingdom,bunits in an authorised unit trust,cshares in an open-ended investment company,dan interest in an offshore fund, andea qualifying interest in land.2In this section—“designated” means designated by an order made by the Commissioners for Her Majesty's Revenue and Customs for the purposes of subsection (1)(a),“offshore fund” has the same meaning as in Chapter 5 of Part 17 of ICTA (see sections 756A to 756C of that Act), and“open-ended investment company” is to be read in accordance with sections 613 and 615 of CTA 2010.3An order under subsection (2) may—adesignate a market by name or by reference to any class or description of market, andbvary or revoke a previous order under that subsection.Words in s. 432(2) inserted (19.7.2007) by Finance Act 2007 (c. 11), Sch. 26 para. 12(10)(b)Words in s. 432(2) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 527 (with Sch. 2)Words in s. 432(1)(a) substituted (19.7.2007) by Finance Act 2007 (c. 11), Sch. 26 para. 12(10)(a)S. 432(3) inserted (19.7.2007) by Finance Act 2007 (c. 11), Sch. 26 para. 12(10)(c)