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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations amend the Authorised Investment Funds (Tax) Regulations 2006 (S.I. 2006/964) so that regulation 52A of those Regulations (inserted by S.I. 2006/3239) also applies if a financial trader owns units which represent rights to 10% or more of the net value of the authorised investment fund.

A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.