The Authorised Investment Funds (Tax) Regulations 2006

[F1TEF distributions (dividends)U.K.

This adran has no associated Memorandwm Esboniadol

69Z60.—(1)  This regulation applies if—

(a)a Tax Elected Fund makes a distribution, and

(b)the amount distributed includes sums attributed to TEF distributions (dividends).

(2) The Tax Acts shall have effect as if the sums were dividends on shares paid on the distribution date by the fund to the participants in proportion to their rights.

(3) In this Part a “TEF distribution (dividend)” means a sum attributed to TEF distributions (dividends) which is distributed (including a dividend treated as paid to a participant who is not chargeable to corporation tax).

(4) This regulation is subject to regulation 23 (treatment of de minimis amounts).]

Textual Amendments