{
  "url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-29",
  "json_url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-29.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/29",
  "kind": "regulation",
  "number": "29",
  "heading": "Application of Part 4 of FA 2003 to a RIF that ceases to be a RIF and becomes an eligible co-ownership scheme",
  "text": "(1) An “eligible co-ownership scheme” means a co-ownership scheme which—\n(a) has ceased to be a RIF as a result of ceasing to meet a qualifying condition, but\n(b) continues to—\n(i) be UK-based (see regulation 6),\n(ii) be an AIF, as defined by regulation 3 of the Alternative Investment Fund Managers Regulations 2013,\n(iii) meet the conditions set out in section 261E(2) and (3) of FISMA 2000, and\n(iv) not be an authorised co-ownership scheme.\n(2) Part 4 of FA 2003 applies in relation to an eligible co-ownership scheme as if—\n(a) the scheme were a company, and\n(b) the rights of the participants were shares in the company.\n(3) For the purposes of Part 5 of Schedule 9A to FA 2003, an eligible co-ownership scheme is not “non-resident” in relation to any chargeable transaction.\n(4) Paragraphs (2) and (3) apply in relation to an eligible co-ownership scheme from the time that the scheme ceases to be a RIF until the earliest of the scheme—\n(a) becoming a RIF,\n(b) being wound up, or\n(c) ceasing to meet one or more of the conditions in paragraph (1)(b).\n(5) If an eligible co-ownership scheme is an eligible umbrella scheme then Part 4 of FA 2003 applies in relation to the scheme as it applies in relation to an umbrella scheme which is a co-ownership contractual scheme within the meaning of section 102A(2A) of FA 2003.\n(6) An eligible co-ownership scheme is an eligible umbrella scheme if it meets the conditions set out in paragraphs (a) and (b) of subsection (3) of section 102A of FA 2003.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 2013/1773, amended by S.I. 2019/328."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Section 261E was inserted by S.I. 2013/1388."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Schedule 9A was inserted by paragraph 5 of Schedule 16 to the Finance Act 2021 (c. 26)."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "See also subsections (3) to (6) of section 102A. Section 102A was inserted by paragraph 1 of Schedule 16 to the Finance Act 2016 (c. 24)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2025/200/regulation/29",
    "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."
}