Interpretation
This
adran has no associated
Memorandwm Esboniadol
2. In these Regulations—
“class of interest” has the meaning given by section 756C of ICTA 1988(1);
“ICTA 1988” means the Income and Corporation Taxes Act 1988(2);
“main fund” has the meaning given by section 756C(1) of ICTA 1988;
“umbrella fund” has the meaning given by section 756B(1) of ICTA 1988; and
references to a part of a fund are references to a part of an umbrella fund which is regarded as a separate offshore fund by virtue of section 756B(2) of ICTA 1988.
(1)
Sections 756A to 756C were inserted by paragraph 3 of Schedule 26 to the Finance Act 2004.
(2)