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Version Superseded: 03/01/2018
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There are currently no known outstanding effects for the The Offshore Funds (Tax) Regulations 2009, Section 12.
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12. In these Regulations—
“HMRC” means Her Majesty's Revenue and Customs;
“period of account”, in relation to an offshore fund, means any period for which accounts of the offshore fund are drawn up;
“proposed prospectus” includes—
any document supplementing or amending the proposed prospectus, and
any document fulfilling the same function as a proposed prospectus;
“prospectus” includes—
any document supplementing or amending the prospectus, and
any document fulfilling the same function as a prospectus;
[F1“regulated market” has the same meaning as in [F2Directive 2014/65/EU] of the European Parliament and the Council on markets in financial instruments (see article [F34.1.21]);]
the “relevant group of sections” means sections 40A to 42A of FA 2008 M1;
“tax year”—
in relation to income tax, has the meaning given by section 4(2) of ITA 2007, and
in relation to capital gains tax, has the meaning given by section 288(1ZA) of TCGA 1992 M2;
“tribunal” means the First-tier Tribunal or, where determined by or under Tribunal Procedure Rules, the Upper Tribunal;
“UCITS fund” means a fund which is an undertaking for collective investments in transferable securities that is authorised by a European Union Member State in accordance with Article 4 of Council Directive 85/611/EEC M3.
Textual Amendments
F1Words in reg. 12 inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 29
F2Words in reg. 12 substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 for remaining purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 5 para. 11(a) (with reg. 7)
F3Word in reg. 12 substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 for remaining purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 5 para. 11(b) (with reg. 7)
Marginal Citations
M1Sections 40A to 40G were inserted by paragraph 2 of Schedule 22 to the Finance Act 2009 (c. 10), section 41 was amended by paragraph 3 of that Schedule, section 42 was amended by paragraph 4 of that Schedule and section 42A was inserted by paragraph 5 of that Schedule.
M2Section 288(1ZA) was inserted by paragraph 101(3) of Schedule 2 to the Finance Act 2008 (c. 9).
M3OJ No L 375, 20.12.85, p3.
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