Definition of non-exempt unauthorised unit trustU.K.
This section has no associated Explanatory Memorandum
27. An unauthorised unit trust is a “non-exempt unauthorised unit trust” if it is [F1not—
(a)an exempt unauthorised unit trust, or
(b)treated by regulations made in exercise of the powers conferred by section 1007(2) of ITA 2007 as not being a unit trust scheme for the purposes of the definition of “unauthorised unit trust” in section 989 of that Act.]
Textual Amendments
F1Words in reg. 27 substituted (6.4.2014) by The Unauthorised Unit Trusts (Tax) (Amendment) Regulations 2014 (S.I. 2014/585), regs. 1, 4