Schedules
Schedule 4Investment vehicles
Part 3Qualifying asset holding companies
9Beneficial entitlement held only through QAHCs
1
In paragraph 4 (only direct and certain indirect interests to constitute “relevant interests”), after sub-paragraph (2) insert—
2A
For the purposes of sub-paragraph (1)(b)(i), a beneficial entitlement of T or C held solely through one or more QAHCs is to be treated as held by that person directly.
2
The amendment made by this paragraph is treated as having come into force on 20 July 2022.
3
But the amendment is not to have effect in relation to a QAHC that became a QAHC before that date if the effect of the amendment would, by itself, cause the QAHC to cease to meet the ownership condition on that date, ignoring—
a
any provision of Schedule 2 to FA 2022 that would, in some circumstances, treat the ownership condition as met or a breach of the condition as having not occurred, and
b
any prior breach of that condition.