# The Co-ownership Contractual Schemes (Tax) Regulations 2025, Regulation 2: Interpretation: Part 2


(1) In this Part—
“the 2009 Regulations” means the Offshore Funds (Tax) Regulations 2009;
“accounting period” has the meaning given by regulation 33;
“depositary”, in relation to a co-ownership scheme, has the meaning given by section 237(2) of FISMA 2000;
“disposal”, in relation to an asset, has the meaning it has in section 21 of TCGA 1992;
“entry notice” has the meaning given by regulation 4(1);
“exempt investor condition” has the meaning given by regulation 14;
“exit notice” has the meaning given by regulation 22;
“FISMA 2000” means the Financial Services and Markets Act 2000;
“genuine diversity of ownership condition” has the meaning given by regulation 7;
“information reporting date”, in relation to an accounting period, means the date 6 months after the end of the accounting period;
“non-close condition” has the meaning given by regulation 8;
“non-UK property assets condition” has the meaning given by regulation 11;
“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);
“ownership requirement” has the meaning given by regulation 5(4);
“participant”, in relation to a co-ownership scheme, has the meaning given by section 235 of FISMA 2000;
“qualifying conditions” has the meaning given by regulation 5(3);
“restriction conditions” has the meaning given by regulation 10(2);
“restriction requirement” has the meaning given by regulation 10(1);
“UK-based condition” has the meaning given by regulation 6;
“UK property rich condition” has the meaning given by regulation 12.
(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.

---
Source: https://www.legislation.gov.uk/uksi/2025/200/regulation/2 (the official version)
Page: https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.