F1PART 6AHybrid and other mismatches
CHAPTER 14Interpretation
Relevant investment funds
259NAMeaning of “relevant investment fund”
1
“Relevant investment fund” means—
a
an open-ended investment company within the meaning of section 613 of CTA 2010,
b
an authorised unit trust within the meaning of section 616 of that Act, or
c
an offshore fund within the meaning of section 354 of this Act (see section 355),
which meets the genuine diversity of ownership condition (whether or not a clearance has been given to that effect).
2
“The genuine diversity of ownership condition” means—
a
in the case of an offshore fund, the genuine diversity of ownership condition in regulation 75 of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), and
b
in the case of an open-ended investment company or an authorised unit trust, the genuine diversity of ownership condition in regulation 9A of the Authorised Investment Funds (Tax) Regulations 2006 (S.I. 2006/964).
Pt. 6A inserted (with effect in accordance with Sch. 10 paras. 18-21 of the amending Act) by Finance Act 2016 (c. 24), Sch. 10 para. 1