Regulation 81 Distributions by authorised unit trust after the end of its pre-transfer accounting period

This regulation applies if, in respect of any post-transfer distribution date of the target trust, there is an amount which falls to be treated, in accordance with regulation F122 (dividend distributions: general), as dividends on shares paid on that distribution date by the target trust to its participants in proportion to their rights.

The amount shall instead be treated as dividends on shares paid on that date by the acquiring company to those persons in proportion to their rights.

In this regulation “post-transfer distribution date” of a target trust means a distribution date of that trust which—