# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 52B: Diversely owned AIFs and financial traders: treatment of shares and units


(1) This regulation and regulation 52C apply if a financial trader has held, or holds, shares or units in a diversely owned AIF.
(2) In computing the trading profits or losses of the financial trader for the relevant period, the following amounts must be brought into account—
(a) all distributions received by or credited to the financial trader in respect of such shares or units for the relevant period; and
(b) any amount required to be brought into account under regulation 52C.
(3) In this regulation and in regulation 52D(2) references to distributions are subject to section 130 of CTA 2009 (insurers receiving distributions etc).
(4) In this regulation and in regulations 52C and 52D—
“relevant period” means—
(a)in the case of a financial trader within the charge to corporation tax, an accounting period, and
(b)in the case of a financial trader within the charge to income tax, a period of account;
“financial trader” has the meaning given by regulation 52E.

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Source: https://www.legislation.gov.uk/uksi/2006/964/regulation/52B (the official version)
Page: https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-52B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.