F1PART 4APROPERTY AIFS
CHAPTER 1PRELIMINARY PROVISIONS
Key concepts69C
1
In this Part “entry” means the time when this Part begins to apply to an open-ended investment company.
2
In this Part “cessation” means the time when this Part ceases to apply to an open-ended investment company.
3
In this Part, in relation to an open-ended investment company—
a
“F (pre-entry)” means the open-ended investment company before this Part begins to apply to it,
b
“F (tax-exempt)” means the open-ended investment company in so far as it carries on property investment business (within the meaning of regulation 69F) while this Part applies to it,
c
“F (residual)” means the open-ended investment company in so far as it carries on business other than property investment business while this Part applies to it, and
d
“F (post-cessation)” means the open-ended investment company after this Part has ceased to apply to it.
F24
In this Part, a “dedicated feeder fund” in relation to a property AIF means a fund which—
a
is a unit trust scheme;
b
is dedicated to investment in the property AIF for which it is a feeder fund (in accordance with its prospectus); and
c
holds at least 85% of its assets in the form of shares in that property AIF.
Pt. 4A inserted (6.4.2008) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2008 (S.I. 2008/705), regs. 1, 5