Paragraph 115 The Authorised Investment Funds (Tax) Regulations 2006I1

in regulation 8 (general interpretation), before the definition of “authorised corporate director” insert—

• ““appropriate regulator” in relation to a person means—

  1. (a)

     in a case where the person is a PRA-authorised person (within the meaning of the Financial Services and Markets Act 2000), the Prudential Regulation Authority or the Financial Conduct Authority;

  2. (b)

     in any other case, the Financial Conduct Authority;”; and

in regulations 14B(4) (tax treatment of qualified investor schemes), 23(2) (provisions applying if amounts available for distribution are de minimis), 69Q(3)(c) and (5)(c) (contents of notice under regulation 69O), 69Z39(1)(a) and (2) (company ceasing to be authorised etc.), 69Z51(3)(e) and (5)(c) (contents of application under regulation 69Z49) and 69Z53(5)(b) (appeal against refusal notice) for “Financial Services Authority” substitute “appropriate regulator”.