9(1)The references in paragraphs 7 and 8(1) above to the primary fund’s share of—
(a)an interest forming part of the assets of the qualifying fund, or
(b)the excess income (as defined in paragraph 8 above) of the qualifying fund,
shall be construed as references to the fraction specified in sub-paragraph (2) below of that interest or excess income.
(2)In relation to any account period of the primary fund, the fraction referred to in sub-paragraph (1) above is—
where—
C is the average value of the primary fund’s holding of interests in the qualifying fund during that period; and
D is the average value of all the interests in the qualifying fund held by any persons during that period.