General modification: unit in authorised unit trustU.K.
102.—(1) The modifications specified in this regulation are that references, however expressed, in TCGA 1992 to—
(a)a unit or an interest in, or rights under, an authorised unit trust,
(b)a unit or an interest in, or rights under, a unit trust scheme within regulation 100(1)(b), or
(c)an entitlement to a share of, or in, the investments subject to the trusts of an authorised unit trust or a unit trust scheme within regulation 100(1)(b),
have effect as if they included references to a share in the open-ended investment company concerned.
(2) Paragraph (1) does not apply—
(a)to section 99(1) (application of Act to unit trust scheme),
(b)to section 99A (authorised unit trusts: treatment of umbrella schemes),
(c)to section 272(5) (valuation of rights of unit holders), or
(d)to references in provisions which include reference, whether made expressly or by implication, to shares in, or an owner of shares in, an open-ended investment company.