# The Authorised Investment Funds (Tax) (Amendment No. 2) Regulations 2008, Note: Explanatory note


(This note is not part of the Regulations)
The Authorised Investment Funds (Tax) Regulations 2006 (S.I. 2006/964) (“the principal Regulations”) make new provision for the taxation of authorised investment funds. There are two types of authorised investment fund: authorised unit trusts and open-ended investment companies. In the principal Regulations, regulation 95 modifies the Finance Act 1996 in its application to authorised investment funds.
These amending Regulations substitute a new regulation 95 of the principal Regulations to ensure that paragraphs 4 and 8 of Schedule 10 to the Finance Act 1996 apply to open-ended investment companies in the same way that those paragraphs apply to unit trust schemes and to offshore funds.
A full and final Impact Assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

---
Source: https://www.legislation.gov.uk/uksi/2008/1463/note (the official version)
Page: https://openlegislation.uk/authorised-investment-funds-tax-amendment-no-2-regulations-2008/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.