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Corporation Tax Act 2010

Section 620: Court investment funds

1942.This section sets out the treatment of court investment funds. It is based on section 469A of ICTA.

1943.In section 469A of ICTA the fund is described as a court common investment fund but for capital gains tax purposes (see section 100(3) of TCGA) the same kind of account is named a court investment fund. We have changed the term to be consistent with the simpler and clearer description in TCGA.

1944.A court investment fund is defined in subsection (1) as a fund set up under section 42 of the Administration of Justice Act 1982.

1945.The effect of the section is that the Tax Acts apply to a court investment fund as if it were an AUT (with the investment manager of the fund in the role of trustee) and as if the persons with qualifying interests in the fund (see the table insubsection (3)) were unit holders in the AUT.

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