7U.K.TCGA 1992 is amended as follows.
8U.K.In Chapter 3 of Part 3 (collective investment schemes), insert at the end—
(1)This Act applies in relation to a relevant offshore fund as if—
(a)the fund were a company, and
(b)the rights of the participants in the fund were shares in the company.
(2)An offshore fund is a relevant offshore fund if—
(a)it is not constituted by a company, and
(b)it is not a unit trust scheme (see section 99).
(3)In this section “offshore fund” and “participant”, in relation to a fund, have the meanings given in section 40A of the Finance Act 2008.”
9U.K.Accordingly, in the title of Part 3 and in the title of Chapter 3 of that Part, insert at the end “etc”.
10U.K.In section 288(1) (interpretation), in the definition of “company”, for “section 99” substitute “ sections 99 and 103A ”.