PART 1INTRODUCTION
General provisions
Definition of “offshore fund”3
1
In these Regulations “offshore fund” has the meaning given by section 40A(2) of FA 2008 M1 (read with the provisions of the relevant group of sections).
2
Paragraph (1) does not apply to the use of the words “offshore fund” in the expression “material interest in an offshore fund”.
Classification of offshore funds4
1
Offshore funds consist of—
a
non-reporting funds (see Part 2 of these Regulations), and
b
reporting funds (see Part 3 of these Regulations).