PART 7CONSEQUENTIAL AMENDMENTS AND MODIFICATIONS OF ENACTMENTS
CHAPTER 3MODIFICATIONS OF TCGA 1992
General modifications of TCGA 1992
General modification: authorised unit trust100
1
The modifications specified in this regulation are that references, however expressed, in TCGA 1992 to—
a
an authorised unit trust (other than references in a definition of an authorised unit trust, an unauthorised unit trust or a unit trust scheme),
b
a unit trust scheme as denoting or including (whether expressly or by implication) an authorised unit trust (other than references in a definition of an authorised unit trust, an unauthorised unit trust or a unit trust scheme),
c
the trustees of an authorised unit trust within sub-paragraph (a) or of a unit trust scheme within sub-paragraph (b),
have effect as if they included references to an open-ended investment company.
2
Paragraph (1) does not apply—
a
to references in any of the provisions specified in paragraph (3), or
b
to references to provisions which include reference, whether made expressly or by implication, to an open-ended investment company.
3
The provisions specified are—
a
section 99(1) (application of Act to unit trust scheme),
F1b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c
section 100(2) (exemption for units in unit trust scheme), and
d
section 272(5) (valuation of rights of unit holders).