# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 27: The reputable intermediary condition


(1) The reputable intermediary condition is met with respect to a participant on the distribution date if conditions A to C are met.
(2) Condition A is that the interest distribution is paid on behalf of the participant to a company.
(3) Condition B is that the legal owner has reasonable grounds for believing that the participant is not ordinarily resident in the United Kingdom.
(4) Condition C is that the company mentioned in paragraph (2)—
(a) is subject to the EC Money Laundering Directive,
(b) is subject to equivalent non-EC provisions, or
(c) is a company which—
(i) is resident in a regulating country or territory, and
(ii) is an associated company of a company which is subject to paragraph (a) or (b).

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Source: https://www.legislation.gov.uk/ukdsi/2006/0110740300/regulation/27 (the official version)
Page: https://openlegislation.uk/draft-authorised-investment-funds-tax-regulations-2006/regulation-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.