Regulation 69E The property investment business conditionF1

United Kingdom

(1)

The property investment business condition is that the open-ended investment company must meet conditions A and B throughout the accounting period.

(2)

Condition A is that the company’s instrument of incorporation and its prospectus F2... include a statement that the company’s investment objectives are—

(a)

to carry on property investment business, and

(b)

to manage cash raised from investors for investment in the property investment business.

(3)

Condition B is that the company must carry on property investment business.

F3(4)

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Annotations

Textual amendments

F1: Pt. 4A inserted (6.4.2008) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2008 (S.I. 2008/705), regs. 1, 5
F2: Words in reg. 69E(2) omitted (with effect in accordance with reg. 1(2) of the amending S.I.) by virtue of The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 23(2)
F3: Reg. 69E(4) omitted (with effect in accordance with reg. 1(2) of the amending S.I.) by virtue of The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 23(3)