{
  "url": "https://openlegislation.uk/common-investment-scheme-1991/schedule-1/paragraph-5",
  "json_url": "https://openlegislation.uk/common-investment-scheme-1991/schedule-1/paragraph-5.json",
  "legislation": "uksi/1991/1209",
  "legislation_title": "The Common Investment Scheme 1991",
  "legislation_url": "https://openlegislation.uk/common-investment-scheme-1991",
  "path": "schedule/1/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": null,
  "text": "(1) The value of a unit on a valuation day shall be an amount equal to the quotient derived by dividing by the number of units into which the fund is treated as being divided on that day the value to the nearest pound of the fund on that day plus—\n(a) any income for the time being withheld by virtue of paragraph 8(2) of this Schedule; and\n(b) any income accrued since the last accounting date;\nminus any accrued liabilities chargeable against the fund.\n(2) The buying or selling price of a unit on a valuation day shall be the value of the unit on that day increased or reduced, if necessary, by the proportion attributable to the unit in accordance with paragraph 3(4)(b) of this Schedule of the cost attending the creation or realisation of units to the number required by paragraph 3(4)(a) and rounded down to four significant figures.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "added",
      "affecting": "uksi/1999/551",
      "affecting_title": "The Common Investment (Amendment) Scheme 1999"
    },
    {
      "type": "am (heading am)",
      "affecting": "uksi/2003/778",
      "affecting_title": "The Common Investment (Closure of High Yield Fund) Scheme 2003"
    },
    {
      "type": "am",
      "affecting": "uksi/2003/778",
      "affecting_title": "The Common Investment (Closure of High Yield Fund) Scheme 2003"
    },
    {
      "type": "rev in pt",
      "affecting": "uksi/2003/778",
      "affecting_title": "The Common Investment (Closure of High Yield Fund) Scheme 2003"
    },
    {
      "type": "am",
      "affecting": "uksi/2003/778",
      "affecting_title": "The Common Investment (Closure of High Yield Fund) Scheme 2003"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1991/1209/schedule/1/paragraph/5",
    "retrieved_at": "2026-10-29T14:44:08.145813+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."
}