InterpretationU.K.
15.—[F1(1) In these Regulations—
(a)“income allocation” means the distribution of an amount to participants; and
(b)“distribution” includes the crediting of an amount to the capital part of the scheme property on behalf of a participant in respect of the participant’s accumulation units.]
(2) In these Regulations “distribution period”, in relation to an authorised investment fund, means a period by reference to which the total amount available for [F2income allocation to participants] is ascertained.
F3(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) In these Regulations the “distribution date” for a distribution period of an authorised investment fund means—
(a)the date specified by or in accordance with the terms of the trust or the instrument of incorporation of the company for any distribution for that distribution period, or
(b)if no date is specified, the last day of that distribution period.
Textual Amendments
F1Reg. 15(1) substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 7(2) (with reg. 24)
F2Words in reg. 15(2) substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 7(3) (with reg. 24)
F3Reg. 15(3) omitted (with effect in accordance with reg. 1(2) of the amending S.I.) by virtue of The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 7(4) (with reg. 24)