# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 40: The qualifying circumstances condition


(1) The qualifying circumstances condition is met in all circumstances except those circumstances in which condition A or B applies.
(2) Condition A applies if section 629 of ITTOIA 2005 (income paid to unmarried minor children of settlor) applies to the payment.
(3) Condition B applies if the holding to which the qualifying certificate relates is specified in a notice which—
(a) has been issued under regulation 39(6), and
(b) has not been cancelled.

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Source: https://www.legislation.gov.uk/ukdsi/2006/0110740300/regulation/40 (the official version)
Page: https://openlegislation.uk/draft-authorised-investment-funds-tax-regulations-2006/regulation-40
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.