This Chapter provides for the Corporation Tax Acts to apply in some circumstances to holdings in open-ended investment companies, unit trust schemes and offshore funds as if they were rights under a creditor relationship (see section 490).

That treatment depends on the company, scheme or fund failing the qualifying investments test.

Sections 493 to 496 deal with when that test is met.

For the meaning of “open-ended investment company” and “offshore fund” in this Chapter, see sections 488 and 489 respectively.