{
  "url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-2",
  "json_url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-2.json",
  "legislation": "uksi/2025/200",
  "legislation_title": "The Co-ownership Contractual Schemes (Tax) Regulations 2025",
  "legislation_url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Interpretation: Part 2",
  "text": "(1) In this Part—\n“the 2009 Regulations” means the Offshore Funds (Tax) Regulations 2009;\n“accounting period” has the meaning given by regulation 33;\n“depositary”, in relation to a co-ownership scheme, has the meaning given by section 237(2) of FISMA 2000;\n“disposal”, in relation to an asset, has the meaning it has in section 21 of TCGA 1992;\n“entry notice” has the meaning given by regulation 4(1);\n“exempt investor condition” has the meaning given by regulation 14;\n“exit notice” has the meaning given by regulation 22;\n“FISMA 2000” means the Financial Services and Markets Act 2000;\n“genuine diversity of ownership condition” has the meaning given by regulation 7;\n“information reporting date”, in relation to an accounting period, means the date 6 months after the end of the accounting period;\n“non-close condition” has the meaning given by regulation 8;\n“non-UK property assets condition” has the meaning given by regulation 11;\n“the operator”, in relation to a co-ownership scheme, has the meaning given by section 237(2) of FISMA 2000 (see paragraph (aa) of that definition);\n“ownership requirement” has the meaning given by regulation 5(4);\n“participant”, in relation to a co-ownership scheme, has the meaning given by section 235 of FISMA 2000;\n“qualifying conditions” has the meaning given by regulation 5(3);\n“restriction conditions” has the meaning given by regulation 10(2);\n“restriction requirement” has the meaning given by regulation 10(1);\n“UK-based condition” has the meaning given by regulation 6;\n“UK property rich condition” has the meaning given by regulation 12.\n(2) In this Part, a reference to an asset, or any other interest, of, or belonging to, a co-ownership scheme (however expressed) is a reference to an asset, or any other interest, that is subject to the scheme.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 2009/3001; relevant amending instruments are S.I. 2011/1211, 2013/1411 and 2017/240."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "2000 c. 8. Relevant amendments were made by S.I. 2013/1388"
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Relevant amendments were made to section 237(2) by S.I. 2011/1613, 2013/1388, 2019/325 and paragraph 5 of Schedule 22 to the Financial Services Act 2021 (c. 22)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2025/200/regulation/2",
    "retrieved_at": "2026-10-28T21:20:08.412857+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."
}