Regulation 6 Amendment of regulation 85E

Regulation 85E (interests in funds treated as not being interests in non-reporting funds)^f1 is amended in accordance with this regulation.

For paragraph (2) substitute—

“(2)

The interests specified are—

(a)

any interest in an offshore fund in respect of which, by virtue of regulation 29 or 30 of the Offshore Funds Regulations, no liability to tax would arise under regulation 17 of those Regulations on a disposal of that interest; and

(b)

any interest of an authorised investment fund in a non-reporting fund which meets the conditions in regulation 14ZA(2).”.