PART 6FURTHER PROVISIONS RELATING TO AUTHORISED INVESTMENT FUNDS
CHAPTER 2AMALGAMATION OF AN AUTHORISED UNIT TRUST WITH, AND CONVERSION OF AN AUTHORISED UNIT TRUST TO, AN OPEN-ENDED INVESTMENT COMPANY
Distributions by authorised unit trust after the end of its pre-transfer accounting period81
1
This regulation applies if, in respect of any post-transfer distribution date of the target trust, there is an amount which falls to be treated, in accordance with regulation F122 (dividend distributions: general), as dividends on shares paid on that distribution date by the target trust to its participants in proportion to their rights.
2
The amount shall instead be treated as dividends on shares paid on that date by the acquiring company to those persons in proportion to their rights.
3
In this regulation “post-transfer distribution date” of a target trust means a distribution date of that trust which—
a
occurs on or after the transfer date, and
b
is the distribution date for a distribution period of the trust ending before the transfer date.