PART 3DISTRIBUTIONS MADE BY AUTHORISED INVESTMENT FUNDS

Preliminary

Funds excluded from the ambit of this Part16.

This Part does not apply to an authorised investment fund if the fund—

(a)

is a registered pension scheme within the meaning of Part 4 of the Finance Act 2004 M1, or

(b)

is treated, under paragraph 1(1) of Schedule 36 to that Act, as having become such a scheme.