xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
105. In section 99 of TCGA 1992 (application of Act to unit trust schemes) M1, in subsection (2), the words “ sections 99A and 99AA ” are treated as substituted for “section 99A”.
Marginal Citations
M1Section 99 was relevantly amended by section 118(2) of the Finance Act 2004 (c. 12).
F1106. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Reg. 106 omitted (8.6.2013) by virtue of The Collective Investment Schemes (Tax Transparent Funds, Exchanges, Mergers and Schemes of Reconstruction) Regulations 2013 (S.I. 2013/1400), regs. 1(1), 14(d) (with reg. 1(2))
107. In section 170 of TCGA 1992 (groups of companies: interpretation), after subsection (4), the following subsection is treated as inserted—
“(4A) An open-ended investment company cannot be the principal company of a group.”.
108.—(1) Section 272 of TCGA 1992 (valuation: general) is modified as follows.
F2(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) After subsection (5) the following subsection is treated as inserted—
“(5AA) In this Act “market value” in relation to shares of a given class in an open-ended investment company the prices of which are published regularly by the authorised corporate director of that company (whether or not those shares are also quoted in The Stock Exchange Daily Official List) shall mean an amount equal to the price so published on the relevant date, or if no price was published on that date, on the latest date before that date.”.
Textual Amendments
F2Reg. 108(2) omitted (with effect in accordance with reg. 1(2)(3) of the amending S.I.) by virtue of The Market Value of Shares, Securities and Strips Regulations 2015 (S.I. 2015/616), regs. 1(1), 4 (with reg. 2(2))
109.—(1) Section 288 of TCGA 1992 (interpretation) M2 is modified as follows.
(2) In subsection (1)—
F3(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)the following definitions are treated as inserted at the appropriate places in alphabetical order—
““authorised corporate director” has the meaning given in regulations made under section 17(3) of the Finance (No. 2) Act 2005 (as at 1st April 2006, see regulation 8 of the Authorised Investment Funds (Tax) Regulations 2006 (S.I. 2006/[abcd]));”
““open-ended investment company” has the meaning given in regulations made under section 17(3) of the Finance (No. 2) Act 2005 (as at 1st April 2006, see regulation 4 of the Authorised Investment Funds (Tax) Regulations 2006 (S.I. 2006/[abcd]));”
““owner of shares” has the meaning given in regulations made under section 17(3) of the Finance (No. 2) Act 2005 (as at 1st April 2006, see regulation 8 of the Authorised Investment Funds (Tax) Regulations 2006 (S.I. 2006/[abcd]));”.
Textual Amendments
F3Reg. 109(2)(a) and word omitted (8.6.2013) by virtue of The Collective Investment Schemes (Tax Transparent Funds, Exchanges, Mergers and Schemes of Reconstruction) Regulations 2013 (S.I. 2013/1400), regs. 1(1), 14(e) (with reg. 1(2))
Marginal Citations
M2Section 288 was relevantly amended by section 118(4) of the Finance Act 2004.
110. In Schedule A1 to TCGA 1992 (application of taper relief), in paragraph 16(2) (special rules for postponed gains) M3, at the end of paragraph (f) the word “ , or ” is treated as added and the following paragraph is then also treated as added—
“(g)regulations 67(4) and 68(4) of the Authorised Investment Funds (Tax) Regulations 2006.”.
Marginal Citations
M3Schedule A1 was inserted by Schedule 20 to the Finance Act 1998 (c. 36).