Part 13Other special types of company etc

Chapter 2Authorised investment funds

Introduction

612Overview of Chapter

1

This Chapter contains provision about taxation in relation to—

a

open-ended investment companies (see sections 613 and 614),

b

authorised unit trusts (see sections 616 to 618), and

c

court investment funds (which are treated in accordance with section 620 as authorised unit trusts).

2

The Chapter also includes provision about—

a

open-ended investment companies which take the form of umbrella companies (see section 615), and

b

authorised unit trust schemes which take the form of umbrella schemes (see section 619).

3

The effect of the provision mentioned in subsection (2) is that, for the purposes of this Chapter, each part of the umbrella company or scheme is regarded as an open-ended investment company or authorised unit trust, but the umbrella company or scheme itself is not.