PART 3DISTRIBUTIONS MADE BY AUTHORISED INVESTMENT FUNDS
Preliminary
Interpretation15
F11
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.
F33
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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.