# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 51: Cases where participant is the manager of the fund


If on the distribution date the participant is the manager of the authorised investment fund, regulation 48(2) shall not apply in so far as the rights in respect of which the dividend distribution is made are held by him in the ordinary course of his business as manager of the fund.

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Source: https://www.legislation.gov.uk/ukdsi/2006/0110740300/regulation/51 (the official version)
Page: https://openlegislation.uk/draft-authorised-investment-funds-tax-regulations-2006/regulation-51
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.