562(1)Amend section 989 (definitions) as follows.U.K.
(2)In the definition of “authorised unit trust” for “section 468(6) to (9) of ICTA” substitute “ sections 616 and 619 of CTA 2010 ”.
(3)In the definition of “body of persons” for “or”, in the second place it appears (before “society”), substitute “ and ”.
(4)In the definition of “close company” for “has the same meaning as in the Corporation Tax Acts (see sections 414 and 415 of ICTA)” substitute “ is to be read in accordance with Chapter 2 of Part 10 of CTA 2010 (see in particular section 439 of that Act) ”.
(5)In the definition of “distribution” for the words from “same” to the end substitute “ meaning given by Chapters 2 to 5 of Part 23 of CTA 2010 ”.
F1(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F2(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(8)In the definition of “51% subsidiary” for “section 838 of ICTA” substitute “ Chapter 3 of Part 24 of CTA 2010 ”.
(9)In the definition of “75% subsidiary” for “section 838 of ICTA” substitute “ Chapter 3 of Part 24 of CTA 2010 ”.
(10)For the definition of “tax” substitute—
““tax”, if neither income tax nor corporation tax is specified, means either of those taxes,”.
(11)In the definition of “umbrella scheme” for “section 468(6) to (9) of ICTA” substitute “ section 619 of CTA 2010 ”.
(12)In the definition of “unit holder” for “section 468(6) to (9) of ICTA” substitute “ sections 616 and 619 of CTA 2010 ”.
Textual Amendments
F1Sch. 1 para. 562(6) omitted (with effect in accordance with Sch. 2 paras. 7(3), 8 of the amending Act) by virtue of Finance (No. 3) Act 2010 (c. 33), Sch. 2 para. 5; S.I. 2011/662, art. 2
F2Sch. 1 para. 562(7) omitted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 67