{
  "url": "https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-20",
  "json_url": "https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-20.json",
  "legislation": "uksi/2006/964",
  "legislation_title": "The Authorised Investment Funds (Tax) Regulations 2006",
  "legislation_url": "https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006",
  "path": "regulation/20",
  "kind": "regulation",
  "number": "20",
  "heading": "Meaning of “qualifying investments”",
  "text": "In these Regulations “qualifying investments”, in relation to an authorised investment fund, means the investments of that fund which fall within any of the following categories (read, as appropriate, with any applicable provision in regulation 21)—\nCategory 1\nMoney placed at interest.\nCategory 2\nSecurities.\nCategory 3\nShares in a building society.\nCategory 4\nQualifying units in another authorised investment fund.\nCategory 4A\nQualifying units in an offshore fund.\nCategory 5\nDerivative contracts whose underlying subject matter consists wholly of any one or more of the matters referred to in categories 1 to 4A and currency.\nCategory 6\nContracts for differences whose underlying subject matter consists wholly of any one or more of interest rates, creditworthiness and currency.\nCategory 7\nDerivative contracts not within categories 5 or 6 where there is a hedging relationship between the derivative contract and an asset within categories 1 to 4A.\nCategory 8\nAlternative finance arrangements.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 20 inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 10"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Word in reg. 20 substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment No. 2) Regulations 2011 (S.I. 2011/2192), regs. 1(1), 5"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2006/964/regulation/20",
    "retrieved_at": "2026-10-29T04:30:57.523890+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}