The Authorised Investment Funds (Tax) Regulations 2006 No. 964

PART 1 U.K. PRELIMINARY PROVISIONS AND INTERPRETATION

Preliminary provisions U.K.

Citation, commencement and effect U.K.

1.—(1) These Regulations may be cited as the Authorised Investment Funds (Tax) Regulations 2006, and shall come into force on 1st April 2006.

(2) These Regulations have effect—

(a) for the purposes of income tax—

(i) for the tax year 2006-07 and subsequent tax years, and

(ii) for distributions made on or after 6th April 2006;

(b) for the purposes of corporation tax—

(i) on income, for accounting periods beginning on or after 1st April 2006,

(ii) on chargeable gains, in relation to disposals made on or after 1st April 2006, and

(iii) for distributions made on or after 1st April 2006; and

(c) for the purposes of capital gains tax, in relation to disposals made on or after 6th April 2006.

F1 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Reg. 1(3) revoked (6.4.2007) by The Authorised Investment Funds (Tax) (Amendment No. 2) Regulations 2007 (S.I. 2007/794), regs. 1(1), 8(a)

Structure of these Regulations U.K.

2.  The structure of these Regulations is as follows—

• this Part contains preliminary provisions and provides for interpretation;

• [F2 Part 1A deals with the genuine diversity of ownership condition;]

• Part 2 deals with the tax treatment of authorised investment funds;

• [F3 Part 2A deals with qualified investor schemes]

• [F4 Part 2B deals with diversely owned AIFs;]

• Part 3 deals with distributions made by authorised investment funds;

• Part 4 deals with the treatment of participants in authorised investment funds;

• [F5 Part 4A deals with Property AIFs;]

• [F6 Part 4B deals with Tax Elected Funds;]

• Part 5 deals with compliance;

• Part 6 contains further provisions relating to authorised investment funds;

• [F7 Part 6A contains provisions relating to Funds Investing in Non-Reporting Offshore Funds (FINROFs);]

• Part 7 contains consequential amendments and modifications of enactments; and

• Part 8 contains final provisions.

Textual Amendments

F2 Words in reg. 2 inserted (1.9.2009) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2009 (S.I. 2009/2036), regs. 1, 3(a)

F3 Words in reg. 2 inserted (1.1.2009) by The Authorised Investment Funds (Tax) (Amendment No. 3) Regulations 2008 (S.I. 2008/3159), regs. 1(1), 4

F4 Words in reg. 2 inserted (1.9.2009) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2009 (S.I. 2009/2036), regs. 1, 3(b)

F5 Words in reg. 2 inserted (6.4.2008) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2008 (S.I. 2008/705), regs. 1, 3

F6 Words in reg. 2 inserted (1.9.2009) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2009 (S.I. 2009/2036), regs. 1, 3(c)

F7 Words in reg. 2 inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 3