Regulation 85A FINROFsF1

(1)

This Part applies to—

(a)

an authorised investment fund which meets the investment condition in regulation 85D (the investment condition);

(b)

an authorised investment fund in respect of which an election has been made in accordance with regulation 85F (elective FINROFs);

(c)

a participant in a fund mentioned in paragraph (a) or (b); and

(d)

a participant in a fund which has left the FINROF regime, where the participant has not made a valid election under regulation 85Z11 (participant’s power to elect for deemed disposal).

(2)

A fund to which this Part applies shall be known as a Fund Investing in Non-Reporting Offshore Funds (“FINROF”).

Annotations

Textual amendments

F1: Pt. 6A inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 21 (with regs. 25, 26)