[F1The property investment business conditionU.K.
69E.—(1) The property investment business condition is that the open-ended investment company must meet conditions A and B throughout the accounting period.
(2) Condition A is that the company’s instrument of incorporation and its prospectus F2... include a statement that the company’s investment objectives are—
(a)to carry on property investment business, and
(b)to manage cash raised from investors for investment in the property investment business.
(3) Condition B is that the company must carry on property investment business.
F3(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ]
Textual Amendments
F1Pt. 4A inserted (6.4.2008) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2008 (S.I. 2008/705), regs. 1, 5
F2Words in reg. 69E(2) 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), 23(2)
F3Reg. 69E(4) 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), 23(3)