SCHEDULE 4U.K.Transitional provisions

Part 1U.K.Transitional provisions relating to Schedule 1

Section 832 - distributionsU.K.

3.—(1) This paragraph applies to a company that is an investment company within the meaning of section 833 of the Act immediately before [F1IP completion day].

(2) For the period of one year beginning on [F2IP completion day]

(a)the amendment made by paragraph 12 of Schedule 1 does not apply to the company;

(b)section 832 of the Act applies to the company as if subsection (5)(a) was substituted by—

(a)the company's shares must be shares admitted to trading on a UK regulated market or an EU regulated market.

Textual Amendments

F1Words in Sch. 4 para. 3(1) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(c)(i)

F2Words in Sch. 4 para. 3(2) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 20(c)(ii)

Commencement Information

I1Sch. 4 para. 3 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2