{
  "url": "https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-85Z10",
  "json_url": "https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-85Z10.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/85Z10",
  "kind": "regulation",
  "number": "85Z10",
  "heading": "Requirement to notify participants when a fund leaves the FINROF regime",
  "text": "(1) If an election is made under regulation 85Z9, the legal owner must notify the participants in a fund that this Part no longer applies to the fund but continues to apply to a participant unless an election is made in accordance with regulation 85Z11.\n(2) The notification under paragraph (1) must be made within a period of 3 months beginning with the date mentioned in regulation 85Z9(5).\n(3) An authorised investment fund which fails to comply with this regulation is liable to a penalty not exceeding £3,000 determined in accordance with section 100 of TMA 1970.\n(4) Sections 100A, 100B, 102, 103(4) and 118(2) of TMA 1970 apply to a penalty determined in accordance with paragraph (3).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2006/964/regulation/85Z10",
    "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."
}