{
  "url": "https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-69Z61",
  "json_url": "https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-69Z61.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/69Z61",
  "kind": "regulation",
  "number": "69Z61",
  "heading": "TEF distributions (non-dividend)",
  "text": "(1) This regulation applies if—\n(a) a Tax Elected Fund makes a distribution, and\n(b) the amount distributed includes sums attributed to TEF distributions (non-dividend).\n(2) The Tax Acts shall have effect as if the sums were payments of yearly interest made on the distribution date by the fund to the participants in proportion to their rights.\n(2A) For the purposes of Part 10 (Corporate Interest Restriction) of TIOPA 2010, a TEF distribution (non-dividend) is treated as not being a tax-interest expense amount of the Tax Elected Fund.\n(3) In these Regulations a “TEF distribution (non-dividend)” means a sum attributed to TEF distributions (non-dividend) which is distributed (including a payment made to a participant who is not chargeable to income tax).\n(4) This regulation is subject to regulation 23 (treatment of de minimis amounts).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 4B inserted (1.9.2009) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2009 (S.I. 2009/2036), regs. 1, 24"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Reg. 69Z61(2A) inserted (29.12.2017) by The Corporate Interest Restriction (Consequential Amendments) Regulations 2017 (S.I. 2017/1227), regs. 1, 2(4)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2006/964/regulation/69Z61",
    "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."
}