PART XII SPECIAL CLASSES OF COMPANIES AND BUSINESSES
CHAPTER III UNIT TRUST SCHEMES, DEALERS IN SECURITIES ETC.
F1 Distributions of authorised unit trusts: general
468H Interpretation.
1
This section has effect for the interpretation of sections 468I to 468R.
2
The making of a distribution by an authorised unit trust to a unit holder includes investing an amount on behalf of the unit holder in respect of his accumulation units.
3
In relation to an authorised unit trust—
a
“distribution period” means a period by reference to which the total amount available for distribution to unit holders is ascertained; and
b
“distribution accounts” means accounts showing how that total amount is computed.
4
The distribution date for a distribution period of an authorised unit trust is—
a
the date specified by or in accordance with the terms of the trust for any distribution for that distribution period; or
b
if no date is so specified, the last day of that distribution period.
5
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
Sections 468I F3to 468Q do not apply to an authorised unit trust which is also an approved personal pension scheme (within the meaning of Chapter IV of Part XIV).
C1468I Distribution accounts.
1
The total amount shown in the distribution accounts as available for distribution to unit holders shall be shown as available for distribution in one of the ways set out below.
2
It may be shown as available for distribution as dividends F4. . . .
3
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
It may be shown as available for distribution as yearly interest.
5
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F65A
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
Amounts deriving from income under Schedule A may not be included in any amount shown in the distribution accounts as available for distribution as yearly interest.
7
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ss. 468H-468R and cross-headings inserted (with effect in accordance with Sch. 14 para. 7 of the amending Act) by Finance Act 1994 (c. 9), Sch. 14 para. 2