# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 69Z68: Multiple breaches of separate conditions


The Commissioners must give a termination notice to a Tax Elected Fund if—
(a) there has been a breach of at least two of the TEF conditions, and
(b) there have been four breaches in a period of ten years beginning with the first day of the accounting period in which the first breach occurs.

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Source: https://www.legislation.gov.uk/uksi/2006/964/regulation/69Z68 (the official version)
Page: https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-69Z68
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.