PART 3REPORTING FUNDS AND THE TREATMENT OF PARTICIPANTS IN REPORTING FUNDS
F1CHAPTER 6ATRANSPARENT REPORTING FUNDS
Annotations:
Amendments (Textual)
Reportable income: general89B
1
A transparent reporting fund must provide a computation of its reportable income for a period of account.
2
The reportable income of a transparent reporting fund for a period of account is comprised of—
a
each of the separate sums of income for the period which fall within paragraph (a) or (b) of regulation 11 (meaning of transparent funds), and
b
the adjustments made to those sums in accordance with regulations 89C to 89E.
3
For the purposes of this Part the adjustments referred to in paragraph (2)(b) are excesses of reported income of the fund over the sums which form part of the income of the fund within paragraph (2)(a).
Pt. 3 Ch. 6A inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 24