The Collective Investment Schemes and Offshore Funds (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations 2017 No. 1204

Offshore funds that are unit trust schemes

3.  In section 99(1) (application of Act to unit trust schemes), after subsection (1) insert—

“(1A) Subsection (1) does not apply to an offshore fund that is a transparent fund within the meaning given by regulation 11 of the Offshore Funds (Tax) Regulations 2009 (see instead section 103D).”

(1)

Section 99 was amended by section 118 of the Finance Act 2004 (c. 12), paragraphs 198 and 199 of Schedule 8 to the Taxation (International and Other Provisions) Act 2010 (c. 8), paragraphs 74 and 96 of Schedule 46 to the Finance Act 2013 (c. 29) and S.I. 2001/3629.