The Stamp Duty and Stamp Duty Reserve Tax (Open-ended Investment Companies) Regulations 1997

Interpretation

2.  In these Regulations—

“authorised unit trust” means a unit trust scheme in the case of which an order under section 78 of the Financial Services Act 1986(1) is in force;

“the Board” means the Commissioners of Inland Revenue;

“open-ended investment company” and “authorised corporate director” in relation to that company have the meanings given by subsection (10) of section 468 of the Income and Corporation Taxes Act 1988(2), read with subsections (11) to (18) of that section, as those subsections are added in relation to open-ended investment companies by regulation 10(4) of the Open-ended Investment Companies (Tax) Regulations 1997(3); and accordingly references in subsections (11) to (16) of that section to the “Tax Acts” shall be construed as if they included references to the enactments relating to stamp duty and Part IV of the Finance Act 1986(4) (stamp duty reserve tax);

“the Taxes Act” means the Income and Corporation Taxes Act 1988(5);

“unit” and “unit trust scheme” have the same meanings as in Part VII of the Finance Act 1946(6).

(1)

1986 c. 60.

(2)

1988 c. 1.

(3)

S.I. 1997/1154.

(4)

1986 c. 41. Part IV of the Finance Act 1986 was repealed by sections 110 and 111 of, and Part VII of Schedule 19 to, the Finance Act 1990 (c. 29) with effect from a day to be appointed.

(5)

1988 c. 1.

(6)

1946 c. 64.