SCHEDULES

SCHEDULE 22Offshore funds

Part 2Application of TCGA 1992 to offshore funds

Commencement: general

12

1

The amendments made by this Part of this Schedule have effect in relation to the acquisition, holding and disposal of rights in a relevant offshore fund on or after the commencement day, subject to paragraphs 13 and 15.

2

In this paragraph and paragraphs 15 to 18 “the commencement day” means—

a

in relation to the acquisition, holding and disposal of rights by a person subject to the charge to capital gains tax, 1 December 2009, and

C1b

in relation to the acquisition, holding and disposal of rights by a person subject to the charge to corporation tax, such day as the Treasury may by order appoint.