{
  "url": "https://openlegislation.uk/draft-investment-trust-approved-company-tax-regulations-2011/regulation-29",
  "json_url": "https://openlegislation.uk/draft-investment-trust-approved-company-tax-regulations-2011/regulation-29.json",
  "legislation": "ukdsi/2011/9780111516683",
  "legislation_title": "The Investment Trust (Approved Company) (Tax) Regulations 2011",
  "legislation_url": "https://openlegislation.uk/draft-investment-trust-approved-company-tax-regulations-2011",
  "path": "regulation/29",
  "kind": "regulation",
  "number": "29",
  "heading": "Consequences of serious breaches",
  "text": "(1) This regulation applies if conditions A and B are met.\n(2) Condition A is that—\n(a) the investment trust is in breach of a requirement imposed by these Regulations, and\n(b) the breach is a serious breach.\n(3) Condition B is that the Commissioners give notice in writing to the investment trust—\n(a) stating that the investment trust is in breach of a requirement imposed by these Regulations and that the breach is a serious breach, and\n(b) specifying the serious breach.\n(4) The investment trust is to be treated as a company which has not been approved as an investment trust for the accounting period in which the serious breach occurred (or, if there is more than one serious breach, the first of them) and, subject to paragraph (5), for all subsequent accounting periods.\n(5) A company to which this regulation applies may make an application under regulation 5 in respect of any accounting period subsequent to the accounting period in which the serious breach occurred.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2011/9780111516683/regulation/29",
    "retrieved_at": "2026-10-30T14:52:49.907490+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."
}